Lexington, KY - Even at age 60, Tom Stultz is still looking to take on a challenge. He says he's found it with his latest move.
Stultz, credited along with sports marketing guru Jim Host with setting a foundation for much of the ever-evolving collegiate sports multimedia landscape, has accepted a position with JMI Sports. Stultz will serve as managing director of the San Diego-based management and consulting firm's newly formed capital and media division. He will engage a variety of entities - ranging from collegiate and professional sports leagues and teams to private entities and municipalities - to develop business plans and media strategies as well as assistance when it comes to securing financing for various capital projects.
"Tom is one of the most respected and accomplished executives in our industry and we are very pleased to have him join the JMI Sports team," said John Moores, owner and chairman of the San Diego Padres who co-founded JMI Sports with Erik Judson. "His extensive experience and relationships within collegiate and professional sports will greatly benefit our company and clients."
Stultz, a native of Greenup County, was named CEO of Host Communications in 2004 when, two years following the departure of its namesake founder the company was losing a reported $4 million a year. Stultz invited Host to return and assist him in restoring the company to a firm footing. That was achieved thanks in no small part to a 10-year, $80 million deal with the University of Kentucky and continued the momentum after IMG acquired Host in 2007. Stultz, as senior vice president and managing director of IMG College's multimedia rights division, was instrumental in the formation in the formation of the Longhorn Network (a partnership between IMG College, the University of Texas and ESPN). In all, Stultz has negotiated and secured more than $1.1 billion in multimedia and sponsorship rights agreements with major universities and has raised in excess of $500 million in bank financing and equity, according to a JMI Sports press release.
He announced late last summer, almost in tune with the launch of the Longhorns Network, that he would be resigning from his position with IMG at the end of the year to seek other opportunities. Stultz said JMI Sports offered the challenges he was seeking.
"Kentucky will always be home, but I accomplished what I wanted to do with IMG," Stultz said. "This is a great opportunity to try to build something special, something I believe in."
His new position will also provide latitude for Stultz as to where he will establish his home base. He'll be setting up shop in Greenville, SC, so he can be near his four preteen grandchildren and integrate himself into their lives - not that he's planning on settling gently into his golden years, however.
"I don't plan on it," Stultz said," I'm having too much fun."