Once the deals are finalized, ABG will own and manage the brands, in partnership with the Presley and Ali families and Joel Weinshanker, chairman and founder of NECA.
As part of the Elvis acquisition, ABG will assume the global rights to a vast library of photographic imagery, including artwork, album covers and movie posters; video and audio assets, including television appearances and music specials; Elvis' name and likeness; and other assets, including the rights to major Elvis-themed events such as Elvis Week, an international celebration of Elvis' life and legacy.
"This is an exciting day for Elvis and his fans," says the singer’s ex-wife, Priscilla Presley. "We look forward to working with the ABG team to further promote the legacy of Elvis. This is the opportunity the family has been envisioning to expand the Graceland experience and enhance Elvis' image all over the world."
Joel Weinshanker will acquire the rights to the management of Graceland, Elvis' home in Memphis, Tenn., with ABG and the Presley family as partners. The ownership of the actual property and artifacts within will remain with Elvis’ only child, Lisa Marie Presley.
ABG will also assume global rights to the intellectual property for famed boxer Muhammad Ali, including the world's largest library of photographic images of Ali; a moving image and video collection; Ali's name and likeness; and trademark phrases, including "Float like a butterfly, sting like a bee" and "The greatest of all time."
"We are very proud to welcome Muhammad Ali into the ABG brand portfolio,” says James Salter, chairman and chief executive officer, Authentic Brands Group. “Together with the Ali family, we intend to build upon Muhammad's core principles to create strategic partnerships which will introduce a broader audience and future generations to Ali's unmatched greatness as both an athlete and an individual."