RTL Group said that it will be investing in sports rights again from now on, and has re-established the marketing agency UFA Sports, with a headquarters in Hamburg.
The agency will mainly be active in international marketing of media rights to sports events. UFA Sports will initially be managed by Philip Cordes, who will gradually expand the company's management by other experienced executives. Cordes served as Chief Executive Officer (CEO) of the Sportfive Group from July 2004 to February 2007, after holding various executive positions at UFA Sports and later at Sportfive.
Elmar Heggen, Chief Financial Officer (CFO) of RTL Group said: "One of the three pillars in our successful corporate strategy is a systematic diversification of our revenue streams, along with tapping new lines of business. Our re-entry into sports rights marketing is a step that makes perfect sense in rounding off our portfolio. I am delighted that we were able to recruit Philip Cordes, an executive we know and who has proven an successful manager, to build the business for us."
UFA Sports CEO Philip Cordes said: "I'm very happy about the trust placed in me by RTL Group, and about its recognition of the strategic importance of international sports rights marketing. We have ambitious targets and are confident that we will very soon re-establish UFA Sports as an important player on the market with contemporary, future-proof business models."
The UFA Sports rights agency was originally established in 1988, as a wholly owned subsidiary of the UFA group, which was merged into CLT-UFA in 1997, and later into the newly created RTL Group in 2000. Through a series of mergers and transactions, the former UFA Sports became a major part of what today is known as the Sportfive Group. In November 2006, RTL Group sold its 25 per cent stake in Sportfive to the French media conglomerate Lagardère.
Cordes to head RTL’s re-launched UFA Sports
