TheStreet.com: CKX Buys Muhammad Ali Rights
Boxing legend Muhammad Ali has reached an agreement to sell 80% of the rights to use his name and likeness to CKX, a company that buys ownership interests in entertainment stars and brands.
Ali will retain a 20% interest in the commercial rights to his name and image, which will be operated through a newly formed company named G.O.A.T. LLC. G.O.A.T. stands for "Greatest of All Time," a reference to Ali's nickname. The Muhammed Ali Family Trust received a cash payment of $50 million from CKX for the stake.
Goat? Heehee!
New York-based CKX also owns the rights to the name and likeness of Elvis Presley and the Idols television brand, including the "American Idol" television show.
Oh, yeah, the people who brought us all those classy Elvis collector plates...
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