Bob Sillerman, the former radio and concert mogul, today announced that he’s acquired an 80% interest in the name and likeness of Muhammad Ali for $50 million.
Despite the sloppily-written press release (which offers no first reference to who “Mr. Sillerman” is) we are please that Ali has finally gotten such a windfall.
Said Ali at the time, “I sign so we can eat.”
Those days of worry are clearly over for Ali.
The larger question though, is what exactly Sillerman is driving at. Having who sold his concert behemoth SFX Entertainment to Clear Channel for $4.4 billion in 2000, he appears to be assembling an entertainment company he hopes will tap profits for stars beyond traditional film and TV sources: For instance, last summer, his acquisition of MBST management.
We’re confused about one thing, though: If Sillerman acquired an 80% stake in Muhammad Ali’s name, wouldn’t that only spell “Muhamma-” ?
Additional coverage in the Wall Street Journal.