"IMG does not give investment advice to our clients...period."

Thanks to reader Andrew for this Darren Rovell story quoting Mark Steinberg on IMG's relationship with the troubled Stanford Financial.

"The suggestion conveniently made by "unnamed sources" about IMG's business affairs involving our clients in today's New York Post is complete fiction, designed to benefit the people making the claims, and is completely irresponsible.

"IMG's 50-year history of success is built upon staunchly protecting the professional interests of our clients. IMG does not give investment advice to our clients...period. Our agreement with Stanford is only to provide consulting services in the area of sponsorships and activation in golf. We do not now, nor have we ever had, a 'quid pro quo' agreement with Stanford or anyone else where IMG would be compensated in exchange for directing our clients to invest with them. We could not have maintained our near half century lead in the industry if we had done anything else. For 'unnamed sources" to imply otherwise is simply reprehensible."