2014 DISTINGUISHED AMERICAN AWARD

GEORGE PYNE

 

George Pyne is a business visionary who reshaped NASCAR and launched IMG into the untapped college sports market.   Before he turned 40 years old, Pyne was identified as a top business leader in eight different issues of national magazines including Bloomberg Businessweek, Advertising Age and Sporting News. Pyne’s passion is to take innovative ideas and evolve them into results that add value to new or established businesses.

 

Pyne’s strategic thinking – analyzing target market potential, financial risk, competitor positioning,  merger and acquisition outcomes and  the development of  successful management teams – has helped establish businesses as diverse as real estate, debt restructuring, marketing and brand management, licensing, rights monetization and sports. Pyne is ultimately driven by a passion for identifying and conquering uncharted markets.

 

After graduating from Brown University and earning All-Ivy and All-New England honors as captain of the football team, Pyne successfully restructured his family’s New England real estate business during the severe real estate recession in the late 1980's and early 1990's.

 

He then relocated to Atlanta, Georgia to work with the Chamber of Commerce in studying the finances of the Atlanta Public Schools.  The findings of his report lead to significant reforms within the Atlanta school system. Pyne’s steadfast focus caught the eye of Sam Williams, partner in the leading global real estate firm Portman Company, who hired Pyne.

 

While at Portman, Pyne worked on a team that oversaw a $2 billion debt restructuring. He also identified an opportunity to take advantage of the firm’s real estate and event expertise to create the World's Largest Super Bowl Party during the 1994 Super Bowl hosted in Atlanta.  This endeavor was so successful that Pyne became Executive Director of AMC Events, a new Portman division for the creation of sports properties and events.

 

After working with NASCAR as a client for AMC Events, NASCAR hired Pyne to lead its business development in 1995. During Pyne's tenure at NASCAR, the business of the company was transformed. Within 11 years, he became the chief operating officer of the company and the second non-family member in 57 years to join the Board of Directors.

 

Pyne repositioned NASCAR by burnishing its image as a national brand and turning it into the second most watched sport on television with a record 75 million fans. Under Pyne's guidance, NASCAR drew major investments by 100 of the Fortune 500 companies including Coca-Cola and UPS. Pyne also negotiated a $4.5 billion television rights deal, orchestrated the landmark $750 million sponsorship deal with Nextel (Sprint) for the NASCAR Nextel (Sprint) Cup Series, and created a $2.1 billion licensing business. Pyne has been described as a "major player in NASCAR's elevation to gold-standard in American sports marketing."

 

His contributions to NASCAR extended well beyond the boardroom. Pyne spearheaded NASCAR's safety initiatives after the death of four race car drivers in 18 months, including legendary seven-time champion Dale Earnhardt, which resulted in a significant and meaningful improvement in driver safety.

 

Business tycoon Ted Forstmann brought Pyne to IMG as President of Sports and Entertainment in 2006.  He has directed the creation of IMG College – which was recently referred to by Forbes magazine as the “crown jewel” of IMG.

 

Recognizing the size, scale and rich demographic of the college sports audience, Pyne saw an opportunity to create more value for universities and sponsors by developing new local, regional and national marketing platforms.  The platforms were created by the acquisition and integration of three collegiate marketing companies that have been transformed under Pyne and his leadership team. Similar to NASCAR, leading brands such as UPS, Lowe's, Miller-Coors, Hyundai and Hershey's have invested in these platforms.

 

Today, IMG spans 30 countries and has dominant businesses in sports media production and distribution, golf, tennis, events, licensing, college, consulting, fashion, client representation, rights representation and sports performance. As a member of IMG's Board of Directors, Pyne's voice is part of the company's long-term strategic initiatives.

 

In 2013, Pyne was selected as one of the NCAA 2014 Silver Anniversary Award winners and was also the first inductee into the newly formed National Football Foundation's Leadership Hall of Fame.

 

Through his ability to perceive and develop new categories in different business environments, Pyne has created assets worth billions of dollars, jobs for people nationally and internationally, and has established new business models that are still expanding. For George Pyne, every day is "about focusing on your strengths, taking risks, accepting the possibility of failure and seeing where it takes you.”

 

 

PREVIOUS RECIPIENTS

 

1988 – William Gilbane

1989 – U.S. Senator John O. Pastore

1990 – Henry A. “Hank” Soar

1991 – Matt Cavanagh (Friendship Award)

1991 – Mosi Tatupu (Friendship Award)

1992 – Paul Choquette, Jr.

1993 – Gov. Philip W. Noel

1994 – Steve Grogan

1995 – Hon. John E. Orton III

1996 – U.S. Senator Claiborne deBorda Pell

1997 – Bradford Boss

1998 – Harry Kizirian

1999 – U.S. Senator Jack Reed

2000 – Armand LaMontague 2001 – Ben Mondor

2002 – Gov. J.J. Garrahy

2003 – Mike Tranghese

2004 – A.J. Smith

2005 – Gov. Donald Carcieri

2006 – Hon. Ronald Machtley

2007 – Joseph MarcAurele

2008 – Rev. Brian Shanley

2009 – Dr. Robert Carothers

2010 – Brig. General James Dunn

2011 – William Gilbane, Jr.

2012 - Michael Goldberger

2013 - Terrance Murray