Bloomberg & Img Announce Sport Partnership
Bloomberg L.P. and IMG have announced a new partnership designed to expand and accelerate the growth of Bloomberg’s vertical division, Bloomberg Sports. The new venture will retain the name Bloomberg Sports, and will be funded through a partnership created by both entities.
The new venture will still be majority owned by Bloomberg and will be located in offices in New York and London.
IMG will have a strong minority equity position and will provide enhanced marketing, sales and production assistance for both the existing Bloomberg Sports analytics products, as well as a new series of projects that will be rolled out this summer.
They will include new ventures in international football as well as greatly enhanced fantasy analytic products for NFL. This will be in addition to the work the company is already doing in Major League Baseball on the consumer and professional level.
Dan Doctoroff, CEO Bloomberg L.P, said: ‘We are very excited to partner with IMG, one of the most respected global leaders in sports and entertainment, to expand a business that was the brainchild of two entrepreneurial employees and incubated through Bloomberg in just two years.’
‘That team, led by Bill Squadron, has created a great foundation, and we are now positioned for growth into other sports both domestically and globally, with the assistance of IMG’s expertise.’
Michael Dolan, chief executive officer, IMG Sports and Entertainment, added: ‘There are few, if any global business brands more respected than Bloomberg, and we are proud to be able to align with them on this new venture, which we think will take the core business that they have built in analytics and expand it exponentially on a global basis.’
‘The ability to effectively use data to analyze and enhance the experience in sport for fans and for professionals has never been more important than it is today, and there is no company that has proven they can do it better, more efficiently and effectively than Bloomberg Sports.’
Inner Circle Sports advised Bloomberg Sports on the transaction.
