Group buys rights to Muhammad Ali's image

[Crankie Avalon]

Group buys rights to Muhammad Ali's image

15 minutes ago



NEW YORK (Reuters) - Licensing firm CKX Inc. said on Tuesday it purchased an 80 percent interest in the name, image and likeness of boxing champion Muhammad Ali for about $50 million in cash.

CKX said the agreement covers all other rights of publicity for Ali, 64, as well as certain trademarks and all existing license agreements.

Ali retains a 20 percent interest in the licensing rights, which will be operated through a newly formed company named G.O.A.T. LLC to stand for the "Greatest of All Time," a reference to Ali's self-proclaimed sports title.

Ali was an Olympic gold medalist in 1960 and a three-time world heavyweight champion. Since retiring from boxing, he has taken a prominent role in charity missions in Africa and Asia and received a U.S. Presidential Medal of Freedom in November.

More: http://p37.news.re2.yahoo.com/s/nm/20060411/us_nm/media_ckx_ali_dc_4;_ylt=AmqLHG4GAvp.MdgIbQxybT5.KcMA;_ylu=X3oDMTA5bGVna3NhBHNlYwNzc3JlbA--

[SeveneightyWhoa]

1. Well if this isn't selling yourself out..

..then what is? ;)

[Poll_Blind]

2. Kinda sad but he deserves the money. When he passes I hope his...

...family uses it wisely. The first and subsequent times I see Ali's image, and all that it represents to me, on some piece of crap, I will not blame him. I will not think of him as a sellout. He will always be The Greatest.

PB