IMG’s owner, private equity firm Forstmann Little, has attracted more than 20 first-round bids for the agency, according to the Bloomberg news agency.
Private equity firms Silver Lake Management, TPG Capital, CVC Capital Partners and KKR & Co. are amongst those to have declared their interest, according to the report.
Silver Lake is understood to have partnered with rival agency William Morris Endeavor Entertainment, while TPG has linked up with Creative Artists Agency for a bid.
Initial, nonbinding expressions of interest in IMG were due on September 30 and give potential buyers access to financial data on the company, which could fetch more than $2bn (€1.5bn).
Forstmann Little is said to have hired Morgan Stanley and Evercore Partners in May as advisers for a possible sale. In August, the New York-based private-equity firm announced it was considering a range of options for the future of IMG.
IMG distributes rights for numerous sports properties through its IMG Media division.