Tellem Departs SFX Sports
Arn Tellem has exercised a contract option to buy back his Los Angeles-based sports-agent operations from SFX Sports, which is owned by Clear Channel Communications. He has also resigned as CEO of SFX Sports.
The legendary sports agent sold his Tellem & Associates to SFX, which in turn was bought by
Under the terms of the agreement, Tellem will leave with agents Rob Pelinka, Bob Myers, Joel Wolfe, Thad Foucher and Jeff Wernick and will continue to represent the current roster of approximately 100 athletic clients.
“[Tellem] had a clause in his contract that said he could buy back his own business by this September 30th, and he decided to exercise that contract option,” Clear Channel spokeswoman Michelle Clarke told Pollstar. “The financial terms aren’t being disclosed.”
She added that Tellem will launch a new company in January.
“We wish Arn the best in his new endeavor,” Clear Channel Entertainment CEO Michael Rapino said in statement. “We look forward to continued positive interactions.”
Meanwhile, SFX Sports will remain a part of Spinco, the eventual independent company that will be helmed by Rapino. The spinoff from CCC will include everything associated with Clear Channel Entertainment.
Sports will include baseball, basketball, football, golf, tennis and financial services divisions. Each will be run jointly by existing practice heads Pat Rooney, Jim Steiner, John Mascatello, Ken Meyerson and Nina Mitchell.
“Instead of naming a single CEO, they’re going to have the lead agents in each of the individual practices, co-lead the company,” Clarke said.
SFX Sports represents more than 500 athletes worldwide.
— Mitchell Peters