IMG’s Teddy Forstmann succumbs to cancer | Golf News and Tour Information [Video]

Teddy Forstmann, a billionaire financier and philantropist and owner of the monolithic agency IMG Worldwide, died of brain cancer on Sunday. He was 71.

Forstmann was diagnosed with brain cancer earlier this year and underwent surgery to remove a tumor in late April. Forstmann had been chairman and CEO of IMG since buying the company for $750 million in 2004.

Though IMG has global interests in sports, fashion and media, its roots are in golf; it was founded in 1960 by Mark McCormack on a handshake deal with Arnold Palmer. Until this year, Forstmann was a fixture in the AT&T Pebble Beach National Pro-Am, playing with his client and friend Vijay Singh.

Forstmann was a member of the National Golf Club of America, Shinnecock Hills Golf Club and Deepdale Golf Club in New York and Bel-Air Country Club and the Madison Club in California. He carried a handicap of 4.1, according to GHIN.com…