( CNN ) -- The search is on for the next David Beckham . In a dream match up , the talent agency which represents global superstars Oprah Winfrey , Matt Damon and Christian Bale has bought sports agency IMG , which deals with tennis ace Novak Djokovic and NFL star Peyton Manning . The price of merging sport and entertainment is a reported $ 2.3 billion , paid by Hollywood agency William Morris Endeavor and private equity partner Silver Lake . `` This has all come about with the process of sport morphing into entertainment , '' Simon Chadwick , Professor of Sport Business Strategy and Marketing at England 's Coventry University , told CNN . `` If you look at some of the sports personalities who are in the IMG portfolio then you realize they 're not just sports stars . They are brands . '' Chadwick believes this agency tie up is an attempt to create `` brand longevity '' for their clients . `` Take David Beckham , who is the perfect model for what agencies want from their brands , '' said Chadwick . `` He went from being a football player to a fashion icon , has moved on to being a sporting ambassador and now he 's on the brink of becoming a franchise owner , '' added Chadwick , referring to Beckham 's interest in bringing a new Major League Soccer ( MLS ) franchise to Miami.. `` Beckham is like a template . It 's all about the creativity and longevity of the brand and that 's what Beckham has achieved . '' According to figures reported by PricewaterhouseCoopers , the sports business is set to grow to around $ 68 billion by 2017 from $ 57 billion this year within North America -- an increase of about 5 % per annum . The acquisition will give William Morris all the rights to IMG 's college sports business and a whole list of stellar names currently looked after by the agency including Justin Timberlake , Djokovic , Maria Sharapova and Taylor Swift . `` IMG has incredible strategic value to WME , '' said William Morris ' co-CEOs Patrick Whitesell and Ariel Emanuel . `` The brand 's global reach , outstanding management team and leadership across sports , fashion and media are a strong complement to our business . '' WME , which represents Steven Spielberg and Denzel Washington , is now hoping to capitalize on the appeal of global sports stars such as Djokovic and Sharapova . `` I was somewhat concerned that IMG would be taken over by venture capitalists , '' added Chadwick . `` I think it 's better in some ways that this kind of organization has taken them over . `` It is their core business ; they know how sport operates and how it works . ''
William Morris Endeavor seals deal to buy IMG . Will see WME combine sport and entertainment . Peyton Manning and Novak Djokovic amongst IMG clients . WME represents Steven Spielberg and Denzel Washington .