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IMG Worldwide Squashes Rumors Of Being Up For Sale

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On Saturday, I was told that Lagardère Unlimited was looking at the possibility of purchasing IMG Worldwide.  I received the unsolicited tip from a credible source and quickly found another person who backed up the claim.  While I went ahead and tweeted what I had heard, I was still questioning just how much, if at all, Lagardère had considered becoming involved with IMG, and whether Lagardère had discussed any intentions with the company.  After all, Lagardère just recently acquired Gaylord Sports Management; a move that changed the balance of power in the world of sports business.

I immediately contacted Jim Gallagher, Senior Vice President of Corporate Communications at IMG Worldwide.  Gallagher quickly put the rumor to bed.  “There aren’t ANY conversations going on with Lagardère, or any other company or individual for that matter, regarding a purchase of IMG,” said Gallagher.  “There’s a good reason for that…IMG is NOT for sale.  We are focused on growing all of our businesses around the world.  We set a goal of EBITDA of $146 million for 2011 and while audited numbers won’t be available until March, we are confident that we delivered the $146 million.   Building on that credibility, we have budgeted $170 million for ’12 and $200 million for ’13.  At that time we have several options.”

Meanwhile, Lagardère may still be looking to expand after its acquisition of Gaylord Sports, but I currently have no confirmation of same.

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.