Potential buyers of the late Teddy Forstmann’s mega-agency IMG shouldn’t hold their breath waiting for the auction to begin.
While bankers were brought on board in May, the process appears stuck at the starting gate.
“They’re still negotiating fees with Evercore and Morgan Stanley,” said a source close to the proceedings.
The sale — which could see a price of up to $2 billion — is being overseen by Washington, DC-based lawyer Mark MacDougall, who was a pal of Forstmann.
Potential bidders could include rival talent agencies WME and CAA, as well as Reliance Industries and Providence Equity.
IMG holds rights to several big-name events from Wimbledon to Mercedes-Benz Fashion Week and represents stars like Venus Williams and Kate Upton.
Reps for MacDougall, Evercore and Morgan Stanley didn’t immediately return calls for comment.