Private equity firms KKR & Co and New Mountain Capital have teamed up to bid for the IMG agency, according to Reuters.
The news agency said that while KKR may not have the industry expertise of rival IMG suitors such as Creative Artists Agency or William Morris Endeavor Entertainment, its partner New Mountain has strong ties to private equity firm Forstmann Little.
Steven Klinsky founded New Mountain in 2000 shortly after leaving Forstmann Little. He was the most senior partner at the firm, with the exception of the Forstmann family, and worked closely with Teddy Forstmann, IMG's former chairman and chief executive. Forstmann died in 2011.
Forstmann Little last month began formally soliciting buyers for IMG and is said to have asked for initial bids by mid-September, with a sale expected to fetch more than $2bn (€1.52bn).
IMG distributes rights for numerous sports properties through its IMG Media division.