WME/IMG gets 250 million dollar investor
By Kristopher Fraser
Mar 24, 2016
SoftBank Group of Japan has announced they are investing 250 million dollars in WME/IMG. They join Silver Lake as strategic investors in the company. The investment will help WME/IMG further global expansion through new acquisitions and joint ventures.
“Ari [Emanuel], Patrick [Whitesell] and the rest of the WME/IMG’s talented management team have a strong record of performance and transformation at the intersection of entertainment, sports and fashion,” said Ron Fisher, director of SoftBank, who managed the investment process, to WWD. Emanuel and Whitesell serve as the co-ceo's of WME/IMG.
In 2014, William Morris Entertainment and Silver Lake acquired IMG for 2.4 billion dollars. The SoftBank investment will result in all stakes being diluted pro rata, meaning proportional to the ownership.
WME/IMG's portfolio includes over 800 events across the worldly, namely sporting events like golf and tennis. It is also an industry leader among the modeling world. In addition, they also operate over 30 fashion weeks, most notably New York Fashion Week: The Shows. The company's sports client roster ranges from professional athletes to numerous sports leagues. They also represent stylists, photographers, and make-up artists.