IMMG Bans Sports Gambling for Employees

One of the world’s largest agencies for representative of sports figures and celebrities has announced it is initiating a policy banning sports betting for employees. IMG, the company representing such star athletes as Eli Manning, Roger Federer, and Danica Patrick, says it will not tolerate wagering by employees even on such ubiquitous events as March Madness pools, according to a company memo obtained by TMZ.

The move follows accusations in October that IMG’s CEO, Ted Fortsmann, had placed bets on competitions involving Federer and Tiger Woods, both clients to whose inside information Fortsmann was privy.

The memo, from the company’s vice-president and general counsel John Raleigh, states that while ethics and conflict of interest rules are already in place, IMG decided a specific gambling policy needed to be created.

The note mentions increased involvement in college athletics as reason for the policy announcement, and forbids any kind of gambling on college events, while leaving pro sporting wagers less defined. Betting in pools and such are forbidden, even if conducted in personal time off IMG premises.

Even though professional sport betting is not specifically addressed, the memo does note that agents in certain fields, such as tennis, are required to know and abide by the laws, rules, and regulations applicable to that area.