Bill Battle is the founder and chairman of CLC, which he founded in 1981. It is the largest and most successful collegiate licensing company and represents almost 200 schools, within a merchandising market valued at $3 billion.
Terms of the IMG purchase agreement were not disclosed.
“Our entire staff has worked hard over the past 25 years to serve our clients and licensees, build a great reputation, and establish a successful revenue stream for collegiate institutions,” Battle said in a statement.
Under the agreement, Battle will continue to lead the company alongside his son Pat, the CEO and President.
Battle was the Vols’ head coach from 1970-76 and had a 59-22-2 record. He was the youngest head football coach in the nation when he took over at age 28 and went on to lead Tennessee to five consecutive bowl games. Three of his teams also finished in the AP Top 10.
Battle announced his resignation from UT in November of 1976 with one game remaining in the season. His final game was a 13-10 victory at Vanderbilt. Battle was reportedly making $48,000 a year when he resigned with one year remaining on his contract.
Story Courtesy: IMG World