IMG, Cowboys, Yankees Partner To Form New Marketing Venture
IMG, the Cowboys and the Yankees are "partnering to offer personal seat licensing, premium seating and suite sales, and, eventually, concessions and merchandise services, to the college sports market," according to Michael McCarthy of USA TODAY. IMG Chair & CEO Ted Forstmann said that IMG and Legends Hospitality Management, which is co-operated by the Cowboys and Yankees, are "set to unveil a joint venture called IMG-Legends." The new enterprise "seems likely to make IMG an even wider-ranging force in college athletics." Forstmann in a statement said the partnership "brings our college clients the expertise and proven track record of two of the most successful and popular sports franchises in the country." IMG College CEO Pat Battle said that the Cowboys' success at selling PSLs for their new stadium "helped cement the deal with IMG." Cowboys Exec VP & COO Stephen Jones in a statement said, "We believe we can do the same for colleges and universities in their search to find new sources of revenue." Univ. of Kentucky AD Mitch Barnhart, whose school is an IMG client, said, "I like the looks of this marriage so far" (USA TODAY, 10/7).
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