Img Chief Treated For Cancer
Ted Forstmann, chairman and CEO of IMG Worldwide, has undergone surgery for brain cancer.
The 71-year old is continuing treatments for the cancer, which he has been battling for several weeks – according to sources quoted in the media.
Reports indicate that Forstmann has continued to come into the office, and the company has plans in place in the case of an emergency such as this.
Forstmann and his firm, Forstmann Little & Co, grew in the leveraged-buyout world in the 1980s and 1990s, with the company leading takeovers of Dr Pepper and Gulfstream Aerospace, which Mr. Forstmann later sold for hundreds of millions of dollars in profits.
Forstmann purchased IMG in 2004 for $750m and has since shifted its focus from athlete representation to deals that involve marketing major events and the content associated with them.
IMG still represents athletes such as Tiger Woods, Rafael Nadal and Roger Federer, and also has a major role in the launch of Indian Premier League cricket.
