altJune 26 - Richard Worth (pictured), chief executive of sports marketing agency Sportfive who signed a multi-million dollar deal with the International Olympic Committee (IOC), is stepping down at the end of the month.

 

The Briton's departure is part of a wider reorganisation within the company, spokeswoman Caroline Goetz claimed.

 

Worth had been in the role since October 2007

 

In February, Sportfive signed a $316 million (£219.5 million) deal with the IOC for the European broadcast rights to the 2014 and 2016 Olympics, although the deal excluded the major markets of Britain, France, Germany and Spain.

 

Under Worth, Sportfive had already helped the IOC has reach agreements with Murdoch companies, Sky Italia in Italy and Fox Turkey in Turkey, to broadcast the Olympics in 2014 and 2016.

 

Worth was executive producer for ITV Sport for 20 years before becoming the chief executive Officer of Team Marketing AG, the Switzerland-based sports agency which manages the commercial rights for the UEFA Champions League.

 

Sportfive's corporate headquarters are in Zurich.

 

The company, which is controlled by the French media giant Lagardere, has two others main offices in Hamburg and Paris.