What Will Happen to IMG Without Teddy Forstmann?

Written by: Staff on 22nd November 2011

What Will Happen to IMG Without Teddy Forstmann?

epa000368936 Vijay Singh of Fiji (L) embraces his amateur partner Teddy Forstmann on the 18th green of Pebble Beach Golf Links during the third round of the Pebble Beach National Pro-Am in Pebble Beach, California, Saturday 12 February 2005. The world's number one ranked golfer shot a 1-over 73 and will miss the cut. EPA/MICHAEL FIALA |

(Above: Vijay Singh and Teddy Forstmann)

Just hours away from the Federer-Nadal matchup, many tennis insiders may be wondering what will happen to IMG, the powerful management company both players are represented by, with the recent death of its chairman and chief executive officer Ted Forstmann.

Probably not much will change. It’s been reported that president and chief operating officer of IMG, Michael Dolan, was selected by Forstmann to take over the business in his absence once it was learned Forstmann had been diagnosed with cancer last spring.

“We’ll have an announcement over the next several days,” a spokesman said, adding that Forstmann and Dolan developed “a very specific growth plan over the next several years.”

“With Ted’s passing, people think we must be in absolute chaos,” the spokesman said. “Ted Forstmann was a iconic businessman who bought and sold 39 companies….For anyone to think that he left this company rudderless, confused or dazed is the silliest concept I can think of.”

Forstmann was a junior tennis player who loved the game and gave millions, even helping begin the Silver Lining Ranch, a camp for terminally ill children in Aspen, Colo., that was first run by Andrea Jaeger, in 1992

For 25 years he held a prominent charity tennis tournament, known as “Huggy Bear,” at his summer home in Southampton, N.Y., raising over $20 million for children’s charities by bringing tennis pros like Martina Navratilova and Boris Becker to play against amateur donors.

On Twitter, industry people and players commented on the loss of Forstmann.

From @JeffTarango: “God Bless Theodore Forstmann and all my best to Siya and Everest…I miss him already. Greatness is hard to find…”

@IMG_WorldWide: “We mourn the loss of our leader Ted Forstmann, a true visionary.”

Another thing the spokesperson said was that: “IMG is not for sale. It is in growth mode, and we have developed three international joint ventures (for sports and TV) in China, India and Brazil, which are expected to provide long-term growth opportunities.”