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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 Adam Heitner, Esq., is a preeminent sports attorney and the founder of Heitner Legal, P.L.L.C., a Fort Lauderdale-based law firm specializing in sports law, contract negotiations, intellectual property, and arbitration. He earned his Juris Doctor from the University of Florida Levin College of Law in 2010 and a Bachelor of Arts in Political Science, magna cum laude, from the University of Florida in 2007, where he was named Valedictorian of the College of Liberal Arts and Sciences. Admitted to practice in the state bars of Florida, New York, and the District of Columbia, as well as multiple federal courts, Darren also serves as a certified arbitrator with the American Arbitration Association.

As an adjunct professor, Darren imparts his expertise through teaching Sports Law at the University of Florida Levin College of Law and Name, Image, and Likeness (NIL) at the University of Miami School of Law in the Entertainment, Arts, and Sports Law LL.M. program. His scholarly contributions include authoring several books published by the American Bar Association, such as How to Play the Game: What Every Sports Attorney Needs to Know, and numerous articles in prominent publications like Forbes, Inc. Magazine, and Above the Law. His thought leadership in NIL has earned him recognition as one of the foremost experts by The Wall Street Journal, USA TODAY, and On3, and he has been lauded as a “power player in NIL deals” by Action Network and a “top sports trademark attorney” by Sportico.

Darren’s passion for sports law led him to establish Sports Agent Blog on December 31, 2005, initially titled “I Want To Be A Sports Agent.” The platform, created as a New Year’s resolution, has grown into a cornerstone of the sports agency community, offering in-depth analysis of industry trends, legal disputes, and agent-player dynamics. His commitment to the field is further evidenced by his representation of numerous athletes and sports agents, as well as his prior role as an Adjunct Professor at Indiana University Bloomington, where he developed and taught a course on Sport Agency Management from 2011 to 2014.

Darren’s contributions have been recognized with prestigious honors, including the University of Florida’s 40 Under 40 Award, the University of Florida Levin College of Law’s Outstanding Young Alumnus Award, and designation as the best lawyer in Fort Lauderdale by Fort Lauderdale Magazine. He remains an active voice in the sports law community, sharing insights through his weekly NIL newsletter and his X posts, engaging a broad audience on legal developments in sports.

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