Sports Business

IMaGine $3 Billion

Terry Semel Yahoo!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.

By Darren Heitner

Darren Heitner created Sports Agent Blog as a New Year's Resolution on December 31, 2005. Originally titled, "I Want To Be A Sports Agent," the website was founded with the intention of causing Heitner to learn more about the profession that he wanted to join, meet reputable individuals in the space and force himself to stay on top of the latest news and trends.

Heitner now runs Heitner Legal, P.L.L.C., which is a law firm with many practice areas, including sports law and contract law. Heitner has represented numerous athletes and sports agents as legal counsel. He has also served as an Adjunct Professor at Indiana University Bloomington from 2011-2014, where he created and taught a course titled, Sport Agency Management, which included subjects ranging from NCAA regulations to athlete agent certification and the rules governing the profession. Heitner serves as an Adjunct Professor at the University of Florida Levin College of Law, where he teaches a Sports Law class that includes case law surrounding athlete agents and the NCAA rules.

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