(CelebrityAccess MediaWire) — Clear Channel Entertainment today announced that Arn Tellem has executed a contract option to buy back his Los Angeles-based sports-agent operations from SFX Sports. Under the option, Tellem and his Los Angeles-based agents will continue to represent their current clients. Separately, Tellem has also stepped down as CEO of SFX Sports.
SFX Sports' existing practice leaders in baseball, basketball, football, golf, tennis and financial services will jointly run the agency — they include Pat Rooney, Jim Steiner, John Mascatello, Ken Meyerson and Nina Mitchell. SFX Sports represents more than 500 athletes worldwide.
"I appreciate the years I have spent at SFX and am looking forward to a positive working relationship moving forward," said Tellem. Tellem joined Clear Channel Entertainment as president and CEO of the SFX Basketball Group in 2000 when Clear Channel bought his agency.
"We wish Arn the best in his new endeavor," said Michael Rapino, CEO of Clear Channel Entertainment. "We look forward to continued positive interactions."
Departing with Tellem are Rob Pelinka, Bob Myers, Joel Wolfe, Thad Foucher and Jeff Wernick.
