He was great, not only in the ring. He spoke up about things he believed in.
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Famed boxer will get $50 million in exchange for giving up majority control of the rights to his name and image.
April 11, 2006
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NEW YORK (CNNMoney.com) - He may always be known as "The Greatest", but famed prizefighter Muhammad Ali will now have to share the rights to his name and likeness.
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Entertainment and licensing firm CKX announced Tuesday that it is paying Ali $50 million in cash in exchange for selling 80 percent interest of his name and likeness.
Muhammad Ali smiles as he looks out over the crowd gathered to celebrate the dedication of the Muhammad Ali Center, Sunday, Nov. 20, 2005, in Louisville, Ky.
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"This relationship with CKX will help guarantee that, for generations to come, people of all nations will understand my beliefs and my purpose," Ali said in a prepared statement.
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http://money.cnn.com/2006/04/11/news/newsmakers/muhammad_ali/?cnn=yes
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