Boxing icon Muhammad Ali has sold the lucrative marketing rights to his name and likeness for $50 million (GBP29 million). The former heavyweight world champion retains a 20 per cent stake in the company Goat LLC, whose name is an acronym of his famously self-proclaimed moniker the 'Greatest Of All Time'. The 64-year-old has also invested in another marketing company, CKX, which will own his trademarks. Ali says, "This relationship with CKX will help guarantee that, for generations to come, people of all nations will understand my beliefs and my purpose. "I am honoured to be able to partner with CKX as they continue to grow." CKX already holds the marketing rights to late rock 'n' roll star Elvis Presley and has an interest in his Graceland home.