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The sports business world may soon be heavily shaken. Last week, I reported that Creative Artists Agency (CAA) created a new venture capital fund and is seeking $20 million in funding. Meanwhile, another behemoth in the world of sports could possibly be changing hands. Forstmann Little & Company, a private equity firm that specializes in leveraged buyouts, […]
Yesterday it was reported that IMG Worldwide (IMG) Chairman and CEO Theodore J. (Ted) Forstmann passed away at 71-years-old. The cause of death was brain cancer. Forstmann will be remembered for his unique ability to invest in companies (including Dr Pepper and Topps), fix them up, make them immensely valuable, and then sell them to make […]
In 2004, Theodore (Ted) Forstmann became the Chairman and CEO of IMG for the small purchase price of $750 million. Forbes has determined that the 71-year-old Forstmann has a net worth of $1.8 billion. Unfortunately, there is no amount of money that can buy a clean bill of health. Earlier this year, Forstmann was diagnosed with […]
I heard that two days ago Florida was the only state in the United States to not have fresh snow on the ground. I sure hope Florida schools are selling that to their recruits. Cancelling school for Snow Days is fun, but it’s not fun when in slightly better conditions you have to trudge through […]
I hope everyone has a fun and safe Halloween. I imagine that most people reading this post will be celebrating the holiday on Saturday night. Earlier that day, the Florida Gators will take on the Georgia Bulldogs, but the weekend in Jacksonville is most known for The World’s Largest Outdoor Cocktail Party. Starting Monday, I’m going […]
Would there be any problem if I placed a bet on the outcome of tonight’s Phillies vs. Giants game? What if I had placed a bet on one of Clint Robinson’s (a client of mine) games this past regular season? Is there a difference between the two? Yesterday, I read a report that Ted Forstmann, […]
I have talked about how out of the few agents who actually have a social media presence, many need to learn how to properly use the networks, not only for damage control, but also because building a strong fan/follower/friend base can lead to more money for the agents and their clients. In reality, many athlete […]
I had the honor of appearing on two radio shows this week. Maybe someday I will host my own down here in South Florida. Possibly even a TV gig? Let’s not get ahead of ourselves. Anyway, another exciting week has passed by. Lots of big pending news for the Dynasty family. One thing I can […]
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 […]