CSM Sport & Entertainment To Acquire Complete Leisure Group

International communications and sports marketing group Chime has entered into an option agreement with Lord Coe and Complete Leisure Group Limited (CLG) whereby on exercise of the option it would acquire Lord Coe’s 93% interest in CLG.

CLG owns the rights to all Lord Coe’s income streams over the next fifteen years. Primarily, these income streams constitute commissions, royalties and consulting income. Lord Coe is one of the most high profile figures in world sport and the proposed acquisition of CLG will assist CSM Sport & Entertainment in its ambition to become one of the top three sports and entertainment businesses in the world. 

It is intended that Lord Coe will be appointed Executive Chairman of CSM on completion of the acquisition of CLG in January 2013. On completion of the transaction, the current CSM Chairman, Alan Pascoe, will become President of CSM.

Lord Coe said:  “I am delighted to be joining such a dynamic group with such a breadth of sporting interests and skills. I hope my experience will help develop this exciting new business and I am looking forward to the challenge.”  CSM’s Group Chief Executive commented: “We are entering an exciting new phase in our evolution at CSM and I can think of no-one in the world better than Lord Coe to help us continue to build on our existing success.”