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April 11, 2006
Muhammad Ali Sells Rights to His Name, Image for $50 Mln
Will the 90's ever end?
Muhammad Ali, ranked by sports experts as the greatest athlete of the 20th century, won his biggest purse 25 years after retiring from the boxing ring.
The former three-time world heavyweight champion sold the rights to his likeness, name and image for $50 million to CKX Inc., which also controls Elvis Presley's music and mansion.
Ali, 64, will keep a 20 percent stake in the rights, which will be managed through a newly formed company named GOAT LLC, for the "Greatest Of All Time." The name, image and likeness of Ali has generated as much as $7 million in annual revenue over the past five years, CKX said in a Securities and Exchange Commission filing.
Chuck Wepner couldn't be reached for comment.
Posted by edelfenbein at April 11, 2006 1:57 PM
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