Is Ted Forstmann already interested in selling IMG? If so, then all signs are pointing towards former Yahoo! and Warner Bros. Entertainment CEO Terry Semel as being the front-runner for the acquisition. Semel is interested in reshaping the organization once again. When Forstmann purchased IMG, he scrapped the team sports divisions (baseball, football, etc), let go of some big name agents (Tom Condon, Casey Close), but retained strong ties in individual sports like golf and tennis. Semel wants to use his experience at Yahoo! to make IMG a media and content company and bolster its digital operation. If this goes down, hopefully Semel will use the lessons he learned from his former digital failures.
$3 billion is the speculated price for a deal to have a chance to go through, but many believe that Forstmann still would have troubles parting with the company. If offered that amount, Forstmann and his investors would receive four times the amount they paid for IMG in 2004. Does $3 billion cover the value of playing golf with Vijay Singh while having Natalie Gulbis carry your clubs? Some believe that Forstmann loves his IMG toy, and does not want to part with it no matter how much is offered. Everything and everyone has a price, though.
One reply on “IMaGine $3 Billion”
IMG is Teddy’s toy. When Gulbis caddied for him I think that pretty much ensured he was in this thing for the long haul.