Business of Sport

IMG CEO Forstmann dies

2011-11-21 14:25
Ted Forstmann
Cape Town - Ted Forstmann, the chairman and CEO of IMG and one of the most influential and respected men in the global sport industry, passed away on Sunday at the age of 71 after a courageous battle against brain cancer.

Forstmann, who acquired IMG in 2004 and had since overseen a major remodelling of the global sport, entertainment and media giant and a period of unprecedented growth in its business, had achieved success in the financial world over several decades before moving into sport. Forstmann Little & Co., the investment firm he founded in 1978, returned more than $15 billion to its investors under Forstmann's leadership.

He was also a passionate philanthropist, donating huge amounts of his money and time to a wide range of causes. In 2010 he signed on to The Giving Pledge, a movement whose members commit to donating the majority of their wealth during their lifetime to philanthropic causes.

As well as his work with causes across the USA, his international work included his position as the only non-African trustee of the Nelson Mandela Children’s Fund.

His love of sport was longstanding, and in his youth he was a highly regarded tennis prospect as well as playing hockey for Yale University.

Forstmann passed away at his home in New York. He is survived by his two sons, Siya and Everest.
 

Read more on:    business of sport
NEXT ON SPORT24X

2014 golden year for Chad

2014-12-21 21:15

 

Read News24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
Live Video Streaming
  • Blitz
    Mon, 24 Nov 2014 @00:00
  • SS1
    Mon, 24 Nov 2014 @01:00
  • SS2
    Mon, 24 Nov 2014 @02:00
  • SS3
    Mon, 24 Nov 2014 @03:00
Video Highlights
Sport Talk

 

Joburg hot spots for cocktails, craft beer, tapas and wine!

It’s the season to be jolly – so we’ve rounded up some new Joburg hot spots!

 
 

I love summer.24

Summer Survey!
Great ideas for the best summer sandwiches!
Christmas lingerie to make this festive season the best one ever!
13 things you might not know about Disneyland
 
 
/Sport
Men
Women
Love 2 Meet
English Premiership flutter

Take Sport24's "expert" tips at your peril...

Featured

Got something you'd like to get off your chest? Got a burning desire to air an opinion? If so, be sure to sign-up on Sport24's FORUM!

Latest blogs
Vote

The five candidates for SA Player of the Year have been revealed. Who gets your vote?

Twitter Follow Sport24 on Twitter

Facebook "Like" Sport24's Facebook page

Newsletters Sign up for the Morning Glory, Super 15 and Soccer newsletters

WIN Enter and win with Sport24!

Mobile Sport24 on your mobile phone - WAP, alerts, downloads, services

Forum Have your Say on Sport24's brand new Forum!

BlackBerry Stay in the loop on your BlackBerry

iPhone Latest Sport24 news on your iPhone

RSS Feeds Sport news delivered really simply.

Blogs Yes your opinion counts. Get it out there

 
There are new stories on the homepage. Click here to see them.