ISTANBUL, TURKEY and NEW YORK, NY -- (Marketwire) -- 05/21/12 -- Do&‥287;u&‥351; Group, one of Turkey's largest private-sector conglomerates with a portfolio of 126 companies in finance, media, tourism, automotive, real estate, energy and construction assets, among others and IMG Worldwide, the global sports, fashion and entertainment company, today announced they have signed an agreement to form a 50/50 joint venture company in Turkey.
The purpose of the JV between Do&‥287;u&‥351; and IMG will be to create and develop a broad range of sports, fashion and entertainment projects to be implemented in Turkey and the Turkic Republics including Azerbaijan, Kazakhstan, Turkmenistan and Uzbekistan.
Initial Plans for the JV include, but are not limited to: the creation of sports academies, camps and clinics; the building, construction, ownership and operation of stadiums, sports and entertainment venues; staging, representing, managing, owning and selling fashion related events; representation for sale of sports media and sponsorship rights; and staging, representation, management, ownership and sale of sports and events including football, tennis, sailing regattas, golf, motor racing, action sports, beach games, mass participation events, cycling, and triathlons, among others.
The Joint Venture has been agreed to and signed by Ferit Sahenk, Chairman of Do&‥287;u&‥351;, and one of the country's most successful businessmen and Mike Dolan, Chairman and Chief Executive Officer of IMG.
Speaking at the press conference, where the 50/50 joint venture was announced, Ferit &‥350;ahenk, Chairman of Do&‥287;u&‥351; Holding, said, "As part of this joint venture agreement we signed with IMG, we aim to establish a fully equipped sports school with a professional team, in order to raise world class athletes. Thanks to our venture with IMG, we are setting our sights on forming a brand-new structure, where young athletes coming from all over Turkey will be trained and raised as world-class athletes. The athletes will be able to compete and successfully represent Turkey in the global arena. The athletic training will be accompanied with foreign language and academic education."
Mike Dolan, Chairman and Chief Executive Officer, IMG, said, "Turkey is now playing a significantly greater role in the world of sports and entertainment. We believe that we have a number of outstanding opportunities ahead of us here in Turkey. We have a vision -- to bring together IMG's global reach and proven expertise in high profile sporting events, stadia management, fashion events and media rights, with the impressive reach of one of Turkey's most successful conglomerates, Do&‥287;u&‥351; Group. Ferit is a terrific person and businessman and I am very pleased and honored to now have him as a partner. Our goal is to create a formidable new international company, capable of developing compelling content that could have a meaningful impact on the people of Turkey."
This joint venture in Turkey is part of the continuing transformation of IMG -- representing leading names from the global fashion, sports and entertainment industries including Kate Moss, Heidi Klum, Taylor Swift, Roger Federer, Maria Sharapova and Raphael Nadal; International content producer and distributor of Premier League Football; recognized relationships with prestigious organizations and federations such as Wimbledon, FIFA Football Mundial, NFL and the ING New York Marathon for more than 40 years and managing the famous Wembley Stadium -- as a global presence in high-growth geographic areas with high profile, successful partners.
Sport is extremely important in Turkey and several sports have mainstream popularity. The most popular sport in the country is European football. In 2002 the Turkish National Team finished third in the FIFA World Cup and in 2008 the national team reached the semi-finals of the UEFA Euro competition. Other mainstream sports that are popular include basketball, volleyball, motorsports, wrestling, swimming and weightlifting, among others. In addition golf, handball and tennis have arrived on the Turkish sporting scene and are attracting large numbers of both players and fans.
Turkey is also one of the bidders for the 2020 Olympic Games, as well as the 2020 European Football Championships. In addition, the Do&‥287;u&‥351; Group is a major supporter of sports in Turkey through its sponsorship of Turkish national soccer and basketball teams and Mr. Sahenk is a member of the Fenerbahce Football Club.
This joint venture in Turkey is part of the continuing transformation of IMG as a global presence in high-growth geographic areas with high profile, successful partners in each of the countries where we have established relationships. The company now has joint ventures in Brazil, India, China and Turkey.
About IMG IMG Worldwide is a global sports, entertainment and media business, with nearly 3,000 employees operating in 30 countries around the globe. IMG's areas of expertise are diverse and wide ranging: IMG College; IMG's Joint Ventures in China, Brazil and India; IMG Media; IMG Events and Federations; IMG Fashion; IMG Models; IMG Art+Commerce; IMG Clients; IMG Academies; IMG Consulting and IMG Licensing. More information is available at www.imgworld.com.
About Do&‥287;u&‥351; Group Founded in 1951, Do&‥287;u&‥351; Group has become one of largest conglomerates in Turkey and has the vision of being a regional leader in the services sector. Do&‥287;u&‥351; Group is active in seven core businesses: financial services, automotive, construction, media, tourism and services, real estate and energy. Do&‥287;u&‥351; Group has 126 companies and a workforce of over 30 thousand which enables it to offer high level technology, quality brands and dynamic human resources to its customers. The Group seeks to maximize the value of its brands, not only in Turkey but also in the regional and global context. The Group carries the vision of becoming a regional leader especially in the services sector.
Contact: Jim Gallagher IMG (212) 774-4419 M: (914) 953-1103 email@example.com