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NEW YORK - Muhammad Ali, one of the world’s most recognized people, has sold 80 percent of the marketing rights to his name and likeness to a firm for $50 million.
The 64-year-old former heavyweight champion, who suffers from Parkinson’s disease, will retain a 20 percent interest in the business. The new venture will be operated by a company called G.O.A.T. LLC, an acronym for “The Greatest of All Time.”
Ali and wife Lonnie are expected to work with CKX, Inc. to market his interests around the world. The deal includes trademarks owned by the boxing great.
“This relationship with CKX will help guarantee that, for generations to come, people of all nations will understand my beliefs and my purpose,” Ali said in a statement issued Tuesday by the company. “I am honored to be able to partner with CKX as they continue to grow.”
CKX has concentrated primarily on entertainment and holds the rights to the IDOLS television brand, which includes the show “American Idol.” It also holds the rights to Elvis Presley’s marketing, and has an interest in the operations of Graceland, Presley’s Memphis, Tenn., home.
Robins: It’s the Year of the Dragon on the Lunar calendar, and this Chinese influence could extend to it also being the year of the Pekingese on the green carpet at the 136th Westminster Dog Show on Tuesday.
NEW YORK (AP) - As the glow fades from the Giants' Super Bowl triumph, some New York sports fans are tuning in to basketball and hockey, with the Rangers in first place and the Knicks' overnight sensation, Jeremy Lin, sparking "Lin-sanity.''
Robins: This year, six new breeds will be making their debut on the green carpet for the Westminster Dog Show, which begins Monday.
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