Octagon Worldwide, the Interpublic-owned sports marketing group, has acquired one of Europe’s top sponsorship agencies, Movie & Media Sports, for an undisclosed sum.
The UK-based operation, which was set up ten years ago, has been renamed Octagon Movie & Media. It will retain its existing management line-up.
The agency specialises in selling sponsorships for governing bodies, and venue owners in international and domestic sports, including rugby union and football.
Octagon Marketing president Alasdair Ritchie says: “Movie & Media Sports’ expertise will add a valuable new dimension to our business. We’ve worked with them successfully in the past and look forward to them joining our team.”
The move comes as speculation mounts over the future of the British Grand Prix, for which Octagon acquired the rights to stage when it bought Brands Hatch last year.
The agency has so far failed to gain planning approval for its expansion of the Brands Hatch site and may be forced to hold the event at Donnington – which would also require redevelopment – or Silverstone, which has itself come under fire over last year’s waterlogged event.
Octagon is understood to be appealing against the decision to block the Brands Hatch expansion.