Most misleading
Sir: As chief executive officer of IMG Artists responsible for IMG's transactions with Harold Holt, Harrison Parrott and Lies Askonas, I am sorry Henry Porter did not speak to me before writing his article (The man who owns the stars', 12 June). I could take issue with a number of the com- ments made but I feel I should put straight two factual inaccuracies for the record.
The comments in relation to Harold Holt are peppered with inaccuracies. The Harold Holt board's decision to 'open its books' was part of its unanimous decision to merge with IMG in 1990. When Harold Holt's performance fell far below its 1990 projections, IMG was forced to re-assess its offer. The board was not prepared to con- sider other options put forward by IMG, although Stephen Wright had always main- tained that Harold Holt's future lay with anassociation with IMG. This conviction, set against the board's inflexibility, finally led him to reconsider his own future at Harold Holt. His ultimate decision to join IMG was on condition that fair and agreed compensation be paid to Harold Holt hardly the 'scant compensation' for Wright's 'defection' to which Porter refers.
Porter's comments in relation to Harri- son Parrott and Lies Askonas are equally erroneous. Tom Graham and Diana Mul- gan (who, incidentally, was a shareholder of Lies Askonas at the time) informed their respective companies of their intention to move to IMG prior to any discussion with their artists. Their artists were subsequently invited to join them. Robert Lloyd, inciden- tally, chose to move from Harrison Parrott to Lies Askonas. To suggest that negotiated and agreed compensation 'did not sweeten the pill' rings hollow.
It is a shame that Porter did not verify his material with me before publishing what amounts to a very misleading article.
John Webber
IMG Artists, Media House, 3 Burlington Lane, London W4
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