By David Gold
February 25 – Sports management moguls IMG will no longer represent professional footballers, including Manchester City and Argentinian striker Sergio Agüero (pictured), after deciding the business does not represent value for money.
The company have made what they described as a “purely business decision” to withdraw from the sector.
Agüero moved to City from Spanish giants Atletico Madrid at the start of the season for a fee believed to be in the region of £40 million (€47 million/$63 million).
His agent Bruno Satin is one of 20 who the company will sever links with, though agents can continue to work with their clients.
IMG’s wider football interests in separate parts of their business will not be affected by this decision.
Just this week, IMG announced that their joint venture – Sports News TV – with partners The Associated Press had obtained highlights packages to the Bundesliga, Ligue 1 and the Brasileirão.
IMG have already terminated agreements with Spanish, Argentine and Italian agents, and are currently going through the process of ending deals with their French- and British- based counterparts.
The decision is, perhaps, a sign of the times – reflecting the new austere nature of the football market, which having been buoyant in recent times is calming this season, the first year that UEFA’s new financial fair play rules have come into effect.
These rules are designed to force teams to break even in the long term, and though, in the first two years up to £40 million ($63 million/€45 million) can be lost, it will restrict the buying power of even the biggest teams.
IMG will concentrate their business on areas such as Formula One, having recently signed a deal with Finnish driver Heikki Kovalainen.
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