Menu
Media

IMG Responds To ASU Claims, Plans To Countersue If Resolution Cannot Be Reached

IMG College, responding to Arizona State Univ.'s termination of a multimedia-rights agreement through '21, claims that the school "is liable" for damages "of at least" $34M, according to Jeff Matcalfe of the ARIZONA REPUBLIC. IMG last week notified ASU that it "will pursue legal action against the university and the Arizona Board of Regents on Dec. 14 unless an amicable resolution is reached." ASU Senior VP & General Counsel Jose Cardenas yesterday responded to IMG in a letter in which he "disputes IMG's claim for damages, citing an offer by IMG" in March '13 to pay ASU $2.5M to "resolve what IMG now says are minor and immaterial contract breaches." ASU in July '09 signed a 10-year agreement with IMG that later was extended through '21. Documents show that ASU "began questioning IMG's performance" in October '12 and by August '13 "had sent a notice claiming default of contract obligations by IMG." ASU by April '14 claimed that it was "conservatively owed" $5.5M from IMG for "failure to provide sufficient radio coverage, radio advertisements not received and a trade-credit violation." ASU late last month notified IMG that it was "terminating the agreement." This "is the final week that IMG will provide services for ASU." If an agreement is not reached, IMG indicated that it "will seek damages for ASU profits achieved with IMG in excess of those received from its previous media-rights holder, to reimburse IMG for its investment since 2009, for IMG lost profits and for damage to IMG's reputation" (ARIZONA REPUBLIC, 10/23).

SBJ Morning Buzzcast: March 18, 2024

Sports Business Awards nominees unveiled; NWSL's historic opening weekend and takeaways from CFP deal

ESPN’s Jay Bilas, BTN’s Meghan McKeown, and a deep dive into AppleTV+’s The Dynasty

On this week’s Sports Media Podcast from the New York Post and Sports Business Journal, ESPN’s Jay Bilas talks all things NCAA. Big Ten Network’s Meghan McKeown shares her insight into the Caitlin Clark craze. The Boston Globe’s Chad Finn chats all things Bean Town. And SBJ’s Xavier Hunter drops in to share his findings on how the NWSL is making a social media push.

Learn more about your ad choices. Visit megaphone.fm/adchoices

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.

Shareable URL copied to clipboard!

https://www.sportsbusinessjournal.com/Daily/Issues/2014/10/23/Media/ASU.aspx

Sorry, something went wrong with the copy but here is the link for you.

https://www.sportsbusinessjournal.com/Daily/Issues/2014/10/23/Media/ASU.aspx

CLOSE