Sportbusiness.com has learnt the firm?s shareholders have opened up viewing rooms in Zurich and London for prospective buyers and are now looking at off-loading the company which owns the lucrative FIFA World Cup soccer rights.
With another massive FIFA payment due in around two months, ISL ? owned by family members of adidas founder Horst Dassler - are believed to have made the decision to try and sell-up and save as much of both their and the company?s reputation as possible.
Said one industry source: ?The family wants out. Advertising giant Dentsu, [which currently own 10 percent of ISL], are likely to want to stay in and possibly increase their stake. With the World Cup in 2002 in their homeland of Japan, they will want to safeguard their interests and the interests of their many clients who have huge budgets riding on soccer?s biggest event.
?The recent troubles have seriously damaged ISL?s reputation in the US and anyone interested in moving in on ISL would be well advised to get some backing from across the Atlantic.?
ISL refused to deny the rumours ? or confirm that shareholders were in talks with prospective buyers.
However, last week, sportbusiness.com exclusively revealed that ex-CART CEO Andrew Craig ? formerly with ISL ? has informed the firm he is keen to mount a bid for the cash-strapped company.
Other key runners and riders in the race to buy the firm include Octagon, SFX, Fox and, current frontrunners, French communications and media giant Vivendi.
Said ISL spokesman Roland Haefeli: ?The future of the company is in the hands of the shareholders. The management of ISL has a duty to review the market but any decision on the future of the firm lies with the shareholders.
?As and when they make any decision we will be informed.?
Staff at Swiss marketing giant ISL have been told the company is looking for a new buyer ? and that any sale could be concluded within the next eight weeks.
