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IMG plans of venturing into music and entertainment put on hold

29-November-2001
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IMG plans of venturing into music and entertainment put on hold

IMG, the global sports management group, has decided to restrict its business interests to cricket, tennis, golf and fashion over the next year, as opposed to the earlier plan of venturing into music and entertainment. Earlier this year, the company had announced its intent to enter the music industry in India by managing events and stars.

IMG has opted for wait and watch as far as its music plans are concerned. According to the company the music industry is currently overcrowded and an entry would be a wrong move on its part.

IMG concluded the largest ever deal with the Sahara group to sponsor the Indian cricket team. IMG’s major foray into tennis this year has been the sponsorship of the Tata Open, which is scheduled to kick off shortly in Chennai.

IMG, headed by Mark H McCormack, is a $1 billion international major in the field of sports management and marketing. Its clientele includes Pete Sampras and Tiger Woods. It set up its Indian operations in 1995 and has been involved with the Sahara Cricket Cup.

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