Kyrgios in long-term extension of representation deal with IMG
Tennis - 11 Jan 2017
Nick Kyrgios, the outspoken and controversial Australian tennis star ranked number 14 in the world, has signed a lucrative extension of his representation deal with WME-IMG, the combined Hollywood talent agency and international sports and entertainment company.
The long-term management deal that was agreed on the eve of next week’s Australian Open ends attempts from rivals to poach the 21-year-old star.
Under the agreement, Kyrgios will continue to be managed by long-time manager John Morris of Global Sporting Connections, while his commercial arrangements will be handled by WME-IMG veteran Carlos Fleming.
Kyrgios’ endorsement deals include tie-ups with Nike, the US sportswear giant, Yonex, the racket manufacturer, and Beats by Dr Dre, the audio manufacturer.
• IMG Learfield Ticket Solutions, the US college sports ticketing joint venture between IMG and college sports specialist Learfield Communications, has been appointed by the University of Missouri to handle its ticket sales.
IMG Learfield represents 40 collegiate partners for which the partnership generated more than $105 million in ticket sales and fundraising revenue in 2015. In 2016, it signed a total of 13 new university partners, including the Big Ten Conference, East Carolina, North Carolina-Chapel Hill, Purdue, Boise State, Oregon, Rutgers, the Mountain West Conference, Washington State, University of Alabama at Birmingham, Cal and University of Tennessee-Chattanooga.
In October last year, Learfield Communications was acquired by Atairos, the $4-billion investment company financed by media giant Comcast.
Under the terms of the deal, thought to be worth between $1.2 billion and $1.3 billion, Atairos was expected to gain a majority of seats on the newly formed board. Providence Equity Partners, the private equity firm that previously owned Learfield, was set to make $425 million on the sale, according to an investor letter obtained by The Wall Street Journal.