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(December 21, 2012) -- World No. 1 Novak Djokovic has signed with IMG Worldwide for exclusive worldwide management and representation.

Under the terms of the exclusive multi-year agreement, IMG will represent Djokovic in developing a brand building strategy through marketing, endorsements, appearances and licensing along with select global business initiatives.

Djokovic ended his relationship with CAA, citing a lack of success in finding endorsement and sponsorship deals off-court.

"I'm very happy with how my career has been advancing these past few years," Novak said via a press release. "Working with IMG will continue to build off of that momentum.IMG's expansive global footprint will offer me a truly unique set of resources to explore business opportunities that simply do not exist anywhere else in the industry."

Fernando Soler, Head of IMG's Global Tennis division, commented, "We are very pleased to have a great champion such as Novak, who is widely considered to be one of the greatest tennis players of all time, choose IMG to work with during this momentous time in his career."

Many other top tennis players are represented by IMG, including Venus Williams and Maria Sharapova. In shocking news this year, Tony Godsick, agent of Roger Federer, severed his ties with IMG, taking the Swiss legend with him.