According to a profile in the business section of the New York Times on April 10, Irving Azoff is attempting to buy up managerial companies in the music industry. The only problem is that he has been unable to secure the necessary financing. He recently tried to raise $100 million from his bank but was turned down as well as failing to convince his banker pal Ethan Penner to come aboard. "If I am going to be in this business, I am going to be a player," he says. "I don't want to be not important."
The article entitled "Importance of Being Important, With Music" seems oddly out of place in such a prestigious publication. It is also an appeal to help Azoff secure financing. It even looks at the rather bleak side of the 5'3", 54-year-old music mogul. He admits to buying Joe Walsh a chainsaw for Christmas one year, not to saw logs but hotel furniture. And he admits to throwing a television set out a hotel window but not to tearing it off the wall.
Unlike the Jeff Kwantinetz's the Firm Azoff's management conglomerate would focus only on music. He has reportedly talked with eight managers with varying interest. You need a company, not a manager these days," he says. "You need clout."
The Times also questioned Azoff about his reputation for his veracity. To which, Azoff says, I don't intentionally lie. If people say that I exaggerate, well maybe that's the way they see it."