LOS ANGELES (CelebrityAccess) — WME|IMG announced that it has sealed a deal to acquire the Professional Bull Riders, Inc., one of the most recognized bull riding circuits.
The Colorado-based PBR is a fast growing sport and stages more than 300 bull riding events globally each year, with attendance of more than 3 million annually. Events produced by PBR include the PBR Built Ford Tough Series, the BlueDEF Velocity Tour, the Touring Pro Division, and the PBR international circuits in Australia, Brazil, Canada and Mexico. The PBR was founded in 1992 by a group of 20 bull riders who sought mainstream attention for the sport.
Terms of the transaction, which is expected to cloe in May, 2015, were not disclosed and the final agreement is subject to the regulatory approval. WME|IMG is purchasing the PBR from private equity company Spire Capital Partners as well as other unnamed shareholders.
WME|IMG co-CEOs Ari Emanuel and Patrick Whitesell said, "We've worked closely with the PBR for the last several years and share their passion for expanding the sport of bull riding globally. The resources across WME|IMG make the partnership a perfect match, combining top quality event production and broadcast rights." – Staff Writers