Wasserman completes SFX buyout

23 Apr 2008

By: Sport Industry Group

US sports marketing giant Wasserman Media Group has completed its long-mooted takeover of the European arm of SFX Sports Group, the marketing agency that represents a host of sports stars including footballers Michael Owen and Steven Gerrard.

Wasserman’s acquisition of SFX Sports from Clear Channel gives the new parent agency a significant foothold in the European market across a number of different sports, most noticeably football and rugby.

Through the union, SFX Sports will become part of WMG Management. No price has been disclosed for the transaction.

In announcing the completion of the deal, Casey Wasserman, CEO and chairman, Wasserman Media Group stated: ‘As WMG continues to bring additional assets to our clients and portfolio, the acquisition of SFX and the unquestionable popularity of football is a great springboard to expand our presence in Europe.’