Sebastian Coe sells his firm

Updated: October 26, 2012, 5:16 PM ET
Associated Press

LONDON -- Enjoying a high profile after successfully running the London Olympics, Sebastian Coe has agreed to sell his management company and the rights to his earnings for 15 years.

The 56-year-old Coe will initially receive $2.4 million from sports and entertainment company CSM, which is headed by Alan Pascoe -- the former London Olympics bid vice chairman.

CSM says the two-time Olympic middle-distance champion will receive guaranteed payments until 2017 based on Coe's "commissions, ...

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