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George Pyne Leaving IMG To Start Own Sports/Entertainment Business

IMG Sports & Entertainment President George Pyne is leaving the company to start his own sports and entertainment business. He has hired Allen & Co. to assist in raising $500M to fund a limited liability company that will acquire sports, entertainment, media and lifestyle businesses. The investment bank is in the early phases of fundraising, and it is unclear when Pyne’s new venture will launch. He will remain a senior advisor to the company and a WME-IMG shareholder. Pyne: “I have no plans to compete with IMG. I love the company, and I really like Ari and Patrick. I look forward to working with them for years to come.”

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