Sports Agent Sells Company
The company headed by powerful sports agent Leigh Steinberg was acquired today by Assante Corp. of Canada.
Steinberg, whose lengthy client list includes NFL quarterbacks Steve Young, Troy Aikman, Drew Bledsoe, Jake Plummer and Warren Moon, was a pioneer in the business, beginning his career by representing quarterback Steve Bartkowski in 1975.
Steinberg's role will remain essentially unchanged, and he will become chief executive officer of Assante Sports Management Group, corporation CEO Marty Weinberg said.
"By partnering with Assante and working with other firms to develop new and exciting media and marketing services, we believe we can expand the opportunities for all of our current and future sports and entertainment clients," Steinberg said.
Assante, which is based in Winnipeg and provides a variety of wealth and management services for high profile and affluent individuals, is paying $120 million for Steinberg, Moorad & Dunn, based in Newport Beach.
The Southern California firm represents more than 150 football, baseball and basketball players, plus boxers, Olympic champions and retired athletes.
The move is Assante's first into the sports field.
"There have been major changes in our industry, with 150 TV stations on 24 hours a day, the development of the internet, and other opportunities such as videotape and video games," Steinberg said. "We're trying to integrate services (for clients).
"I've talked with Warren, Drew, Steve and Troy, and they're excited about this, about it opening new doors for them."
©1999 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed