The fabled IMG Academy in Bradenton, FL has reportedly been sold to a Hong Kong based private equity group.
The group, known as BPEA EQT, has purchased the property from Endeavor in an all cash deal valued at $1.25B. Endeavor, which is the parent company of the UFC, and WWE amongst others, owned IMG since 2014.
The school, which originally began as a tennis academy, has since blossomed into one of the preeminent high school sports factories in the nation. With alumni scattered across virtually every pro sports league, the school has long been a hotbed for those with ambitions of playing sports professionally.
BPEA EQT’s co-head of Education Kosmo Kalliarekos remarked “This acquisition brings together a world-class sports education brand and a premier education group, and it further underscores BPEA EQT’s commitment to developing leading school platforms and help them expand across Asia and beyond, for the benefit of students, their parents, and teachers.”
IMG currently boasts a large population of students of Asian heritage, a number that is likely to increase with the new financial backers. According to a press release detailing the acquisition, IMG helped place 30,000 students onto college sports rosters in 2022 alone.
Brent Richard, President of IMG Academy, said, “Our purpose is to empower student-athletes to win their future, preparing them for college and for life. We are constantly trying to raise the bar in pursuit of that purpose through our on-campus and online experiences. Simultaneously, our staff is passionate about growing the impact we have on the world, reaching more families, and helping them on their journey. BPEA EQT and Nord Anglia are ideal partners to achieve and accelerate those goals, and we are excited for that future.”
As is customary with acquisitions of this magnitude, the deal is currently being vetted by regulatory bodies, with the expectation that the transition of ownership will wrap up in the fall of 2023.
-Kyle Skinner
Twitter: @JKyleSkinner
Photo: Sam Keilton. This file is licensed under the Creative Commons Attribution-Share Alike 4.0 International license.