The long-expected sale of IMG Worldwide is now underway, the WSJ reports, with Morgan Stanley and Evercore running the offer on behalf of Forstmann Little. CAA and its private-equity backer TPG is one potential bidder; William Morris (with capital from their backer Silver Lake) is considered a possible bidder as well. Not mentioned in the WSJ story is Lagardere. They are IMG’s major rival in sports marketing and representation, and the conglomerate has expressed interest in acquiring IMG in the past. (By the same token, a talent agency acquiring IMG would find themselves Lagardere’s rival in sports.)