IMG signs landmark events deal with CCTV
Friday, 1st August 2008 ~ Chris ~ Link ~ Comments (0)
That appears to be temporary situation, as sports marketing behemoth IMG Worldwide Inc has signed a landmark exclusive 20-year agreement with CCTV that gives US-based IMG rights to develop and market new sports events in mainland China, according to a Wall Street Journal report.
According to the WSJ, financial terms of the deal – which will give IMG an unparalleled competitive advantage in one of the world's fastest-growing television markets - have yet to be disclosed and the deal is expected to be formally announced on August 7.
"The fundamental purpose of the joint venture is to marry what CCTV does in China and what IMG does all over the world," the paper quotes Ted Forstmann, IMG's chairman and chief executive, as saying.
CCTV's daily audience of 680 million people is the world's largest for any network. IMG is expected to focus on developing sports events and other entertainment events around China for broadcast on CCTV.
How big is IMG? As the WSJ puts it:
"Mr Forstmann, a founding partner of buyout firm Forstmann Little & Co, acquired IMG in 2004. The company, one of the world's largest producers and distributors of sports, owns or manages more than 4,000 sporting and entertainment events, from Wimbledon to the Australian Open. It also manages the careers of many athletes, including golfer Tiger Woods and tennis player Maria Sharapova."
"If we are successful [in China], there are going to be a whole lot of events that exist that do not exist today," Mr. Forstmann told the WSJ.
The big question is: Will IMG be able to remold China's sports industry, which is essentially a poorly organized state-owned enterprise, into a streamlined moneymaker like that of the United States? The answer is coming to a TV near you.
Tags: Australian Open, CCTV, IMG, sports marketing, Tiger Woods, Wall Street Journal
Yao's comments on Artest, and China's basketball fights
Friday, 1st August 2008 ~ Maggie ~ Link ~ Comments (1)
Ron Artest
The Houston Chronicle reported earlier this week that the Rockets were going to acquire forward Ron Artest from the Sacramento Kings, bringing a much-needed scoring threat and a strong defensive presence to help Yao and Tracy McGrady.
Yao should have a simple response to a trade for a proven veteran who would give the Rockets one of the NBA's best trios and a shot at an NBA title: "Good move. I can't wait to play with him." Leave the speculating about Artest's past to the media.
But when Yao got word of the trade in Nanjing, where he is getting warmed up for the Olympics with the Chinese national team, he didn't sound too excited. Artest has been involved in some controversial situations, most famously a brawl four years ago at the Palace of Auburn Hills in a game against the Detroit Pistons, which resulted in Artest getting the longest ever NBA suspension for an in-game fight.
Apparently the fighting has Yao concerned. Here are his widely reported comments from Wednesday:
"There's worry. Obviously, yes. We will think about it, of course. Hopefully, he's not fighting anymore and going after a guy in the stands. I haven't talked to Ron yet, so it's hard to say. I have to find a way to talk to him and see what we can do as a basketball team. He has a history. But we know he is a physical player. He is a good player. He really can help us. And Ron is on a contract year, too. I think Ron Artest is a good player if coach (Rick) Adelman can control the team well."
The Rockets are Yao's team, but on this one he probably should have followed the lead of teammate Luis Scola, who is also in Nanjing playing with Argentina's national team and had a more positive reaction. "I don't know anybody that knows him personally. So I'm not gonna judge him for anything that I don't know," Scola said. "It's always a help. Great players are always welcome."
It should be noted that the guys Yao is playing with right now—the Chinese national team—have also been known to throw some blows when things get heated on the court. The team was involved in a fray in a game against Lebanon at the 2001 Asian Championships in which Li Nan, who is still playing with the national team, reportedly brandished a pair of scissors. Yao was on the bench at the time and not involved in the fight. More recently, and documented with video evidence, China had a good dust-up with Puerto Rico in the 2005 Stankovic Cup (56.com video).
Artest and Yao finally spoke yesterday, Artest said on ESPN's Pardon the Interruption. "It was great," Artest said of the conversation, adding, "I can't wait to be a part of that team. I don't care if I have to come off the bench. I could be a sixth man, a seventh man. All I want to do is contribute and win a lot of games." Listen to the interview here.
Image: NBA.com
Tags: basketball, Houston Rockets, Li Nan, NBA, Ron Artest, Yao Ming