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

 

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
Comments have been closed for this article.
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

Live scoring

 

Quiz: Test your Rio Olympics memory!

Think you know what went on at the Rio Olympics? Prove it by tackling Sport24's ridiculously impossible yet highly addictive post-Games quiz!

 
 

Rio Olympics

GALLERY: SA's Rio Olympic medallists
As it happened: Rio Olympics - Day 17
Selecting 6 numbers turned Britain into Olympic superpower
Caster cranks up the heat in Rio semi
 
 
Men
Women
Love 2 Meet
Sport24 on Twitter

Follow Sport24 news on Twitter

Featured

Follow all the action from the 2016 Rio Olympics. The highs, the lows, the tears, the smiles as the world's greatest athletes compete for gold, silver and bronze.

Latest blogs
Vote

Who would you like to see start at flyhalf for the Boks in their next Rugby Championship clash against the Wallabies in Brisbane?

Twitter Follow Sport24 on Twitter

Facebook "Like" Sport24's Facebook page

WIN Enter and win with Sport24!

BlackBerry Stay in the loop on your BlackBerry

RSS Feeds Sport news delivered really simply.

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