Cardinals Fans Preview Super Bowl App Raptors Offer Peek At New Logo, Brand Identity College Football Bowl Season Kicks Off Rays' Ballpark Talks May Be Back On Track L.A. Relocation Off The Table For NFL In '15 Dish Reaches Deal With Comcast SportsNet Weekend Hot Reads '14-15 Bowl Season Set To Begin Daktronics To Provide Petco Park Displays
SBD/April 9, 2013/FinancePrint All
IMG General Counsel John Raleigh sent a memo to staff last Friday, telling all employees that they are not to discuss the company’s pending sale. Raleigh wrote that the sale is to be left to Forstmann Little, which is overseeing the process, and discouraged employees from fielding inquiries from the press or other “third parties” about the sale. Raleigh wrote, “You should decline to comment.” He went on to write that IMG understands that several of the company’s former execs may have been hired by potential buyers as consultants on a purchase of the company. Employees are obligated not to discuss the sale or speculation of the sale. Raleigh wrote, “IMG would view any breach of obligation in a very serious manner.” He added, “We intend to leave these matters to Forstmann Little.” This comes after the sale of the agency was a consistent topic of conversation at last week's IMG World Congress of Sports in Naples, Fla.