IMG Worldwide, the global sports and media company and EBX Group, the prominent Brazilian conglomerate with activities in mining, logistics, energy and oil and gas, have agreed to the formation of a 50/50 joint venture to develop a broad range of sports and entertainment businesses in Brazil.

EBX is owned by Eike Batista, Brazil’s richest man and eighth in the world according to Forbes magazine, with a wealth worth $27 billion. He was also one of the main backers of Rio de Janeiro’s successful 2016 Olympic bid.

The principles of the joint venture were agreed to between Eike Batista, the founder and Chairman of EBX Group, and Ted Forstmann, Chairman and CEO of IMG Worldwide, last week at EBX’s headquarters in Rio de Janeiro. The formal agreement is being prepared and is expected to be signed shortly. The joint venture will be called IMGX (the letter X symbolizing the multiplication of wealth that is featured in the names of all of Eike Batista’s companies).

“I am very happy to set up this joint venture with IMG, a globally recognized group for developing sports and entertainment properties,” said Eike Batista.  “Ted Forstmann is an impressive and knowledgeable entrepreneur, with an outstanding reputation and a unique vision of using sports and entertainment as a way to stimulate education, to create jobs, pride and thus improve the self esteem of people. Ted is transforming IMG from a talent agency to a worldwide sports and media company, and this joint venture can really benefit from this expertise. Together we can take advantage of the great opportunities Brazil will have in the sports and entertainment arenas, especially considering the 2014 World Cup and the 2016 Olympic and Paralympic Games,” Batista added.

“I am extremely pleased to be forming a business with someone of Eike Batista’s international, entrepreneurial reputation,” said Ted Forstmann.  “The success of the diverse businesses that he has created from scratch has been truly amazing.  Eike’s focus on the infrastructure sectors, technology and natural resources has made an enormous contribution to his country, as Brazil advances to become the fifth largest economy in the world by 2015. I believe our new joint venture offers a myriad of very significant business opportunities.  It is my hope and expectation that IMG’s joint ventures in Brazil, India and China will be mutually beneficial,” Forstmann concluded.”

The Brazilian entrepreneur Eike Batista is investing US$ 15 billion until 2012 in the natural resources and infrastructure sectors in Brazil, Chile and Colombia, through five companies listed in the BMF&Bovespa Stock Exchange, with a total market capitalization of close to US$ 60 billion.  In parallel, Eike Batista also has investments in the entertainment and hospitality businesses in Rio de Janeiro through the Chinese restaurant Mr. Lam, the touristic ship Pink Fleet, the Gloria Palace Hotel and the concession of Marina da Gloria, which will serve the 2016 Olympic and Paralympics Games.

This joint venture in Brazil is part of Ted Forstmann’s continuing transformation of IMG that began when he took the helm of the company in 2006. His move into the College Sports industry, with acquisitions in 2007 and 2008, culminated with last month’s acquisition of ISP Sports, making IMG the largest and dominant player in college athletics.  Earlier this year, IMG announced a joint venture with Mukesh Ambani, the chairman of Reliance Industries in India.  IMG Reliance is working to unlock India’s sporting potential and to create, own and operate major sports and entertainment assets in that country.  IMG also has a 20-year exclusive joint venture in place with CCTV, the national television network in China.

Despite finishing second in the table, price Liverpool received the highest total payment of £97.5m from central revenue form the 2013/14 Premier League season.

The figure, the highest amount achieved in the Premier League, took into account Liverpool being showcased on TV 28 times during the season. 

The newly crowned Barclays Premier League champions Manchester City received £96.6m during 2013/14. The ratio between the top and bottom earning club was 1.57:1.

The central revenue is measured by 50% of UK broadcast revenue being split equally between the 20 clubs, 25% paid in Merit Payments (depending on where a club finishes in the final League table), and the final 25% paid in Facility Fees each time a club’s matches are broadcast in the UK.

The Premier League also revealed that stadium occupancy was at an all-time high with 95.9% of stadiums filled.

Table Below (courtesy of Premier League):

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Rugby Ventures Ltd., see the management team behind Rugby Expo, buy cheap has today confirmed the dates for Rugby Expo 2014.

This year’s Rugby Expo will return to Twickenham Stadium on Wednesday 22 – Thursday 23 October as the two day event continues to cement its place as the world’s largest live conference, exhibition and interactive event focused on the business of club and provincial rugby covering all levels of the game.

Run in partnership and supported by Premiership Rugby, RFU, SRU, WRU, Pro12, Championship and Association of Rugby Agents, the event, being run for the fourth consecutive year at Twickenham, is now regarded as the meeting place for the key decision makers of the sport.

Building on the success of previous years, Rugby Expo 2014 will host more than 50 leading speakers from across the sports industry, 40 rugby-focused exhibitors and more than 800 attendees including 400 grass roots clubs.

New for 2014, Rugby Expo has launched two new packages for delegates in order to maximise attendance at the two day event. Availability is limited and passes will be sold on a first come first served basis.

Tickets will again be made available to senior positions at grass roots rugby clubs to attend day two of Rugby Expo 2014 free of charge.

Commenting on the confirmation of the 2014 dates, John Hockey, chairman of event owners Rugby Ventures, said: “We are delighted to confirm our return to Twickenham Stadium for 2014. The venue has proved to be the ideal location for the last three events, as it allows us to maximise both the exhibition and conference programme as we continue to host main stage panel discussions on the exhibition floor and smaller, more focused workshops in quieter breakout rooms.

“With involvement from key organisations including the RFU, Premiership Rugby and Association of Rugby Agents already confirmed, and over half of the exhibition stands either sold or reserved for key event partners, Rugby Expo 2014 is set to maintain its position as the must-attend event for the business world of rugby.”

To discuss sponsor or exhibitor opportunities or to find out more about attending Rugby Expo 2014 as a delegate, contact the team on +44 (0) 843 289 0583 or e-mail Rob Ware at rob@rugbyexpo.com.

Circuit of The Americas (COTA) today announced that Steve Sexton is departing as its chief executive officer with Jason Dial, pharmacy viagra company president, assuming the role of CEO.

“This was a tough decision for me to make, but the timing is right,” Sexton said. “Our team’s accomplishments in the last three years have been remarkable, and I am very proud and privileged to have worked with a group of experienced and dedicated individuals, who’ve proven time and again that nothing is impossible. Our just-completed Formula 1 United States Grand Prix is further evidence of the exceptional experience that the COTA can deliver. And to see the way that the City of Austin, Travis County and the State of Texas have embraced our accomplishments is incredibly rewarding.

“We’ve done a considerable amount of heavy lifting the past few years, and the time is right for me to pass the executive torch to Jason Dial, who is well positioned to lead COTA into its next chapter. The enormous effort required to build and launch an internationally renowned company in a matter of months has left little time for anything but work. I’m looking forward to taking a break and spending time with my family who sacrificed a lot while we were fully focused on opening the circuit and putting COTA on a path for long-term success. I am so proud of the team we’ve assembled and the impact they’ve had in a short amount of time. Big things are on the horizon for Circuit of The Americas, and I am thrilled to have been here to start the COTA story.”

COTA chairman Bobby Epstein said: “Our investors, friends, and community are grateful for Steve’s tremendous accomplishments. He has led us from our beginning and has helped create a vibrant, multi-dimensional company. While building a first-class roster of professionals, he tirelessly navigated us through rough waters and successfully gave COTA a solid foundation. We wish Steve the very best as he takes a well-deserved break and know that his futures endeavors will likewise be great.”

By Steve Moorhouse

Istanbul 2020 chairman believes that the 2012 Olympic Games in London has raised the standard for future Games and has proved to be an inspiration for his bid. 

Hasan Arat (pictured right), sickness Istanbul 2020 Bid Chairman is hoping to impress the IOC Evaluation Commission next month and has said that the success of London 2012 and the focus on legacy in particular, thumb has set a new ‘benchmark’ for future bidding cities. 

Turkey boasts the youngest population in Europe, with 20 million people under the age of 20, so legacy is an element of the Games that is not lost on Arat and his team. 

Speaking at the World Sports Congress in London, Arat said: “As an ex-athlete, I had a fantastic time in London. You did a fantastic job. 

“It became a real benchmark to the rest of the world.” 

The London bid was particularly successful because of the organising committee’s dedication to the post-Games era and the legacy that would be left behind. 

Arat went on to add: “London 2012 was a fantastic example for us and the inspiration of the young generation is something we have to look at very carefully because we have a very young population.” 

“For our young generation, it is a great opportunity.”

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