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ABG buys Ali’s licensing rights

AFP-JIJI

The corporation that owns licensing rights to Elvis Presley and Marilyn Monroe, Authentic Brands Group (ABG), announced Tuesday that it has purchased the rights to legendary American boxer Muhammad Ali.

The deal to obtain Muhammad Ali Enterprises from CORE Media Group, for which no purchase price was revealed, will give ABG rights to the sporting icon whose work as a fighter, civil rights pioneer and humanitarian has made him among the world’s most recognized faces.

“We are very proud to welcome Muhammad Ali into the ABG brand portfolio,” ABG chairman James Salter said. “Together with the Ali family, we intend to build upon Muhammad’s core principles to create strategic partnerships which will introduce a broader audience and future generations to Ali’s unmatched greatness as both an athlete and an individual.”

About 40 major brands have licensed rights to Ali, a 1960 Rome Olympic gold medalist who won the world heavyweight title three times. He was stripped of his crown in 1967 after being convicted for refusing induction into the US Army, a verdict reversed by the U.S. Supreme Court in 1971.

ABG together with the Ali family will manage the brand of the fighter, who lit the Olympic cauldron at the opening ceremonies of the 1996 Centennial Olympic Summer Games in Atlanta.