IMG, one of the most prominent talent agencies in the world who represents such names as Serbian tennis superstar Novak Djokovic as well as Brazilian supermodel Giselle Bundchen-Brady has recently been put up for sale. The owners of the firm, equity firm Forstmann Little and Company is in the process of choosing an investment bank to oversee the sale and transfer of the company's sports and modeling agency.

The sale is being pushed by the trustee that oversees the estate of the deceased Teddy Forstmann. Forstmann passed away last 2011 and was IMG's chairman and chief executive during the agency's heyday. IMG was purchased by the private equity firm for US$750 million back in 2004 is expected to receive bids up to US$2 billion.

Interest is already on the upswing as former competitors such as CAA, William Morris and Lagardere are gearing up for the purchase. As for the bank to oversee the sale, it's a choice between Goldman Sachs, JP Morgan Chase and Co., and Morgan Stanley according to an anonymous source privy to the sale.