LONDON--Advertising giant WPP PLC (WPP.LN) said Tuesday it is
leading a syndicate investing $250 million in Bruin Sports Capital,
a global sports marketing firm launched by George Pyne, the former
President of IMG Worldwide's global sports and entertainment
business.
WPP will have a preferred partnership arrangement with Bruin
Sports Capital that will allow its operating companies' clients
access to unique media and sponsorship opportunities in sport, it
said.
Bruin Sports Capital will build its portfolio organically, as
well as through acquisitions and investments in established sports
marketing businesses, sports federations, leagues and
franchises.
Shares at 0900 GMT down 15 pence, or 1.13%, at 1310 pence
valuing the company at 17.28 billion pounds ($26.72 billion).
-Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
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