Menu
Finance

F1 Owner CVC Capital Plans $2B-Plus Takeover Bid For IMG Worldwide

The part-owner of F1 is plotting a $2B-plus "takeover bid for IMG Worldwide," according to Mark Kleinman of SKY NEWS. CVC Capital Partners, the London-based private equity group, "is working on a blockbuster bid for IMG, which has been put up for sale in recent weeks." A person familiar with the plans said, "CVC is taking this incredibly seriously. They have done a huge amount of work on this and see themselves as a natural owner of a business like IMG." CVC "would be a logical buyer of IMG." Since gaining control of F1's shares in '05, "it has grown the sport's profits significantly, to the degree that it has been planning a stock market listing" that could value F1 at $12B. It also previously owned Dorna Sports, the organization behind the MotoGP, and "bought All Sport Management, the company which has the rights to advertise at F1 circuits around the world." CVC "will face tough competition to secure control of IMG, which is arguably the most coveted sports rights asset to come up for sale for several years" (SKY NEWS, 6/1).

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.

Shareable URL copied to clipboard!

https://www.sportsbusinessjournal.com/Global/Issues/2013/06/04/Finance/CVC-Capital-IMG.aspx

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

https://www.sportsbusinessjournal.com/Global/Issues/2013/06/04/Finance/CVC-Capital-IMG.aspx

CLOSE