Acquisition Brings IMG Into Sanctioning Body Space

By Michael Smith, Staff Writer, SportsBusiness Journal

IMG Acquires BSI, Rights To 11 European Motorcycle Races

IMG acquired BSI Speedway this week, giving it the license to sell TV rights, sponsorships and other assets to a series of 11 motorcycle races in nine different countries across Europe. The racing series is governed by the Federation Internationale de Motorcyclisme, which licenses BSI Speedway to control the series' assets as a promoter. BSI Speedway is not an actual racetrack. The series, which begins this month and runs through October, consists of the Speedway Grand Prix and the Speedway World Cup. BSI, short for Benfield Sports Int'l, had been the rights holder for the series for the past seven years. Its management team will remain in place. "We think there is a real opportunity to grow this," said IMG President George Pyne. "This is a property with global possibilities. IMG is in 30 countries and the ability to be in multiple countries really plays to our strength." Pyne said the series was attractive because its events already are televised live on Saturday nights throughout the UK and it has a history of being profitable. IMG Senior VP/Motorsports Rob Armstrong spearheaded the acquisition. Pyne said that the events draw crowds from 25,000-60,000, depending on the venue. Vito Ippolito, president of the FIM, called IMG's entry "the single biggest piece of news ... in the last 30 years" for the Speedway series. He also said he looked forward to expansion overseas.

ON THE ACQUISITION TRAIL: Terms of the deal were not available, but IMG has invested what analysts believe to be well into the nine figures to make six acquisitions in the last four months, including the Ian Todd-led purchase of Quintus, an English sports marketing agency that runs events ranging from cycling to tennis to triathlons. Todd joined IMG Int'l as President a little more than a year ago. Additionally, IMG bought CSI Sports from Octagon Worldwide, launched a revamped Tennis Week magazine, acquired Nunet AG and, under its fashion business flag, acquired Art + Commerce, a management agency, all in the last four months, making it perhaps the busiest stretch since CEO Ted Forstmann began IMG's makeover nearly two years ago.