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IMG sold to a Hong Kong based private equity company

Unsider said:
Sounds like a chess move, what do they see that we don’t? Perhaps I’m overthinking this…
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No telling. Some of the Hong Kong private equity companies have very deep pockets and can maybe help IMG expand their facilities and programs. And Hong Kong is under fire from China so maybe they’re trying to move some money just in case.
 
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It's very obvious that IMG was bought because of sports, not academics.

College football has been ruined. High school football is next! It's already happening.

You all have free agency in SF, and grown *** men gambling on pee wee games.

This has been in the works for a loooooong time.
 
miamimike305 said:
Might as well exchange your dollars for Yuan. I don’t get how the Us is letting China buy america.
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Greed.
Politicians, CEOs, large farmers and landowners are just concerned with the short term profits and could care less if they sell their grandchildren’s future down the river.
This not exclusive to Americans either, the Chinese are buying up land and institutions all over the world, including Europe, Africa, Australia. You would think politicians would do something to stop it, but they are all corrupt and on the take, so they don’t care as long as they get a cut of the deal.
 
423Hurricane said:
No telling. Some of the Hong Kong private equity companies have very deep pockets and can maybe help IMG expand their facilities and programs. And Hong Kong is under fire from China so maybe they’re trying to move some money just in case.
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Agree, but sounds ominous for the innocence of pre-college football. Money has not only found a new avenue (as in NIL already), but perhaps a new chokehold. Well, nothing is sacred anymore…
 
passitback said:
It's very obvious that IMG was bought because of sports, not academics.

College football has been ruined. High school football is next! It's already happening.

You all have free agency in SF, and grown *** men gambling on pee wee games.

This has been in the works for a loooooong time.
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IMG was created specifically for sports. Every student enrolled plays a sport and class electives are often just training courses for their specific sport. Academics were never part of the appeal.
 
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DTP said:
IMG was created specifically for sports. Every student enrolled plays a sport and class electives are often just training courses for their specific sport. Academics were never part of the appeal.
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Thanks for sharing. I’m interested in learning how many other IMG-esque schools will be purchased.

Wondering what the angle here is because it certainly isn’t benevolence and good will that led to the school being purchased.

How will these HS kids make the investors money?
 
passitback said:
Thanks for sharing. I’m interested in learning how many other IMG-esque schools will be purchased.

Wondering what the angle here is because it certainly isn’t benevolence and good will that led to the school being purchased.

How will these HS kids make the investors money?
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It's a private school so everything is run like a business. I'd have to imagine tuition is quite pricey.
 
DTP said:
IMG was created specifically for sports. Every student enrolled plays a sport and class electives are often just training courses for their specific sport. Academics were never part of the appeal.
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It was originally the Nick Bolleteri Tennis Academy that was started in 1978. He trained players like Andre Agassi, Boris Becker, Martina Hingis, Jelena Jankovic, and Monica Seles. He started with a small tennis club and kids literally living in his home. Then he borrowed $1 million dollars and built a complex in a former tomato field. He loved to coach good players and he gave out so many scholarships that he went broke and had to sell to IMG in 1987. Man was a legend in the tennis world.
 
Rickd said:
It was originally the Nick Bolleteri Tennis Academy that was started in 1978. He trained players like Andre Agassi, Boris Becker, Martina Hingis, Jelena Jankovic, and Monica Seles. He started with a small tennis club and kids literally living in his home. Then he borrowed $1 million dollars and built a complex in a former tomato field. He loved to coach good players and he gave out so many scholarships that he went broke and had to sell to IMG in 1987. Man was a legend in the tennis world.
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Didn't know that. Thanks for sharing.
 
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Rickd said:
It was originally the Nick Bolleteri Tennis Academy that was started in 1978. He trained players like Andre Agassi, Boris Becker, Martina Hingis, Jelena Jankovic, and Monica Seles. He started with a small tennis club and kids literally living in his home. Then he borrowed $1 million dollars and built a complex in a former tomato field. He loved to coach good players and he gave out so many scholarships that he went broke and had to sell to IMG in 1987. Man was a legend in the tennis world.
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Accurate. Nick had moved to Longboat Key and then opened IMG just across the water in Bradenton.
 
passitback said:
It's very obvious that IMG was bought because of sports, not academics.

College football has been ruined. High school football is next! It's already happening.

You all have free agency in SF, and grown *** men gambling on pee wee games.

This has been in the works for a loooooong time.
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They've been gambling on pee wee games before you were born.
 
Curious. I'm wondering how this will impact IMG long-term. Private equity firms care about one thing, getting the most money possible. They are quick to cut anything that doesn't maximize their return.
 
ItsMeD said:
Curious. I'm wondering how this will impact IMG long-term. Private equity firms care about one thing, getting the most money possible. They are quick to cut anything that doesn't maximize their return.
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Just another for-profit Florida school where making money is priority one.
 
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There is absolutely zero clauses for patriotism in the capitalist system.
Google and Apple and GM will raise up out of here and for to any country that welcomes them or agrees to payments for moving there.

They ain’t bailing anyone out.


There is no corporate charter that states take care of America and Americans first.

Unless regulated by government or lawsuits, the entire system is design e by law to bleed every ounce of profit from anything and anyone at any cost.

Now that mentality has made this country what it is.
But at some point there has to be someone who realizes that china isn’t trading with us for profit. It’s trading with us for control. It’s trading with us to listen to and steal any corporate, educational, research, and military technology they can get their hands on.
 
DTP said:
It's a private school so everything is run like a business. I'd have to imagine tuition is quite pricey.
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I bet it's through the roof.

Just makes me wonder why it'd be purchased by investors for such a hefty price tag....
 
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someone brought it up but IMG is a huge talent agency and that campus started as a tennis incubator. I am very familiar with IMG and the tennis world in particular as that was the sport I played through college. IMG is a massive conglomerate that invests (talent agency) in athletes and hope for the payout. I'd be surprised if Football is their top dog or revenue producing sport. Baseball and Tennis are enormous for them still even if they have kind of fallen off in due to other massive academies, mostly in Europe and the USTA establishing a HUGE campus in Orlando for the top American talent.
 
mirvin88 said:
Their first order of business will be to scour little leagues and force train selected kids solely for the purpose of playing football
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Actually, it might be soccer and basketball in that order. The former is China’s top sports priority, the latter it’s most popular sport.
 
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