EDR - Endeavor reportedly discussing sale of IMG Academy

2023-03-28 15:32:30 ET

• Endeavor Group ( NYSE: EDR ) is reportedly considering selling IMG Academy, its boarding school/athlete incubation business that has produced a number of professional sports stars.
• The company has heard from interested parties as part of ongoing conversations, Sportico reported -- though it's not the first time selling IMG has come up.
• IMG Academy incorporates a boarding school, sports camps, online coaching and recruiting assistance aimed at boosting young athletes in more than a dozen sports, based around a main facility Endeavor owns in Florida. The academy fields football and boys' basketball teams that are among the country's best.
• Endeavor Group Holdings ( EDR ) is a near-$11B business, and most recently reported $5.27B in full-year 2022 revenue. Its Events, Experiences and Rights unit -- which contains the IMG Academy business -- posted quarterly revenues of $557.7M (up 8%) and full-year revenue of $2.5B, up 21% year-over-year .

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