WPP invests $250m in sports marketing firm

6th Jan 2015 12:10

Advertising and public relations giant WPP will invest $250m in a sports marketing firm created by George Pyne, former president of IMG Sports and Entertainment.Pyne left the IMG Worldwide sports venture in August to set up its own business, Bruin Sports Capital.WPP said the investment in Bruin was part of its strategy of growing sports content, as it already works with organisations such as FIFA, UEFA, Premier League and the NFL.The partnership will allow WPP clients to access media and sponsorship opportunities in sports via the Bruin Sports Capital.Martin Sorrell, founder and chief executive of WPP said the investment is "an important part" of the group's strategy, as "it impacts new markets, new media, data investment management and the application of technology and horizontality".He continued: "George is a major talent in the sports business world and based on his track record, I'm confident that the clients who work with WPP's operating companies will be given access to many high-value media and sponsorship opportunities.WPP shares were down 0.53% to 1,318p on Tuesday at 12:34.