Tiger's Lost Endorsements Cost IMG $4.6 Million In 2009
The document was used to raise between $300 and $350 million to refinance current debt and pay for new acquisitions. It notes that no single client or IMG-managed property earns more than 2% of its revenue. Rovell writes that IMG has found that representing celebrities is not the best way to make money in the 21st century. The funds reportedly will be used to grow IMG's business in Asia and to increase its control over the collegiate market it already dominates.
An IMG spokesman would not publicly comment on the story.