Ted Forstmann, the savvy billionaire head of sports and modeling talent agency IMG and other business, is being treated for brain cancer, the company confirmed.

Forstmann has been feeling ill for several weeks and colleagues urged him to seek medical attention.

He did, at the Mayo Clinic where he had a malignant brain tumor last week, according to a report by Charlie Gasparino of Fox Business.

Chairman and CEO of IMG and the senior founding partner of the pre-eminent leveraged buyout firm, Forstmann Little & Co, Forstmann has been known as much for his girlfriends as his business savvy.

Since acquiring IMG in 2004, Mr. Forstmann, 71, established a world-class management team at IMG and leads the company’s growth by expanding its global footprint, acquiring new businesses and talent that complement its breadth of services, creating and owning content, and streamlining the organization and its cost structure.

He recently invested in a cricket league in India.