Muhammad Ali sells image rights

Former world heavyweight champion Muhammad Ali has sold a majority interest in his name and image rights to media marketing company CKX for $50 million, the company said.

The deal gives the New York-based outfit an 80 percent share in the name, likeness and related rights of the legendary US boxer, with Ali and his family retaining the other 20 percent.

CKX last year bought Elvis Presley's name and image rights as well.

"Muhammad Ali is truly the greatest of all time. Very few individuals have so dedicated their focus to promoting social well-being on a global basis," said Robert Sillerman, CKX chairman and chief executive, referring to Ali's extensive charity work abroad since his retirement.

"While we all recognise that Muhammad Ali is one of the greatest athletes of all time, his achievements outside of the boxing ring are certainly as great as his ascent to three-time world heavyweight champion," he added.

Ali suffers from the neurological disease Parkinson's, but continues to make public appearances where he is warmly greeted. (ians)