(December 6 – 10:10 ET) – The sports and entertainment division of Assante Corp. has agreed to acquire Dan Fegan’s basketball representation practice.

Fegan provides sports and marketing representation to NBA athletes, prospects and former players. Operating in Los Angeles and Dallas, Fegan began representing players in 1989. His client list includes Dale Davis of the Portland Trail Blazers, the Milwaukee Bucks’ Jerome Kersey and Joe Smith of the Detroit Pistons.

The deal, subject to regulatory approval, sees Assante acquiring all of the assets of Fegan’s basketball practice for an undisclosed amount of cash and 171,200 subordinate voting shares. The deal also involves an earn-out based on attaining financial targets over the five years following closing. The earn-out will be paid in an undisclosed amount of cash and up to 1,428,835 shares.

This acquisition is the fourth purchase by the Assante Sports Management Group which was formed through the acquisitions of Steinberg Moorad & Dunn in November 1999, Maximum Sports Management in December 1999 and M.D. Gillis & Associates Ltd. in April 2000.

Leigh Steinberg, chairman and CEO of Assante Sports Management Group said, “With Dan on board, Assante now has dominant representation in each of the four major team sports in North America.”
-IE Staff