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Bloomberg Sports Completes Joint Venture Partnership Deal With IMG

Bloomberg Sports has completed a joint venture partnership deal with IMG in which the global sports and entertainment company has acquired a minority stake in Bloomberg's fast-growing fantasy and professional sports management operation. Financial terms were not disclosed, but industry sources pegged the deal in the $6-8M range, with IMG acquiring roughly a third of the company and Bloomberg retaining majority control. The alignment, several months in development and first reported in April by SportsBusiness Journal, is designed foremost to accelerate an international expansion of Bloomberg's sports-oriented analytics products. "We're very excited to have this done and be able to look to the next phase of our company's growth," said Head of Bloomberg Sports Bill Squadron, head of IMG Media's interactive operations in North America from '04-'06. "We think there's a huge opportunity for us in both Europe and Asia in things like soccer and cricket." Bloomberg Sports, in operation for nearly four years, has built a two-pronged operation in which it sells a variety of analytics products to fantasy sports enthusiasts, and also has developed professional-grade products used by more than 20 MLB clubs to evaluate players and opponents. Inner Circle Sports advised Bloomberg Sports on the deal. "Bloomberg is a renowned global brand, and we are very excited about our investment," said IMG Senior VP/Strategic Planning & Financial Operations Rob Ponger. "We believe the field of data analytics has enormous growth potential and IMG's presence around the world can play an important role in the success of this partnership going forward." Bloomberg Sports will retain its brand name, as well as existing offices in both N.Y. and London.

SBJ Morning Buzzcast: March 25, 2024

NFL meeting preview; MLB's opening week ad effort and remembering Peter Angelos.

Big Get Jay Wright, March Madness is upon us and ESPN locks up CFP

On this week’s pod, our Big Get is CBS Sports college basketball analyst Jay Wright. The NCAA Championship-winning coach shares his insight with SBJ’s Austin Karp on key hoops issues and why being well dressed is an important part of his success. Also on the show, Poynter Institute senior writer Tom Jones shares who he has up and who is down in sports media. Later, SBJ’s Ben Portnoy talks the latest on ESPN’s CFP extension and who CBS, TNT Sports and ESPN need to make deep runs in the men’s and women's NCAA basketball tournaments.

SBJ I Factor: Nana-Yaw Asamoah

SBJ I Factor features an interview with AMB Sports and Entertainment Chief Commercial Office Nana-Yaw Asamoah. Asamoah, who moved over to AMBSE last year after 14 years at the NFL, talks with SBJ’s Ben Fischer about how his role model parents and older sisters pushed him to shrive, how the power of lifelong learning fuels successful people, and why AMBSE was an opportunity he could not pass up. Asamoah is 2021 SBJ Forty Under 40 honoree. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazine’s awards.

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