For Michael Phelps, the eight gold medals he won in Beijing are more than just bling: hey’re a ticket to fabulous, eight-figure endorsement contracts. If Phelps plays his cards right, the Daily News says, he could earn up to $40 million in sponsorship and endorsement deals:
“If he’s handled properly over the next four years, he should generate in excess of $40 million,” said Marc Ganis, president of Sportscorp Ltd., a Chicago-based sports business consulting firm.
…Phelps “benefits from a celebrity-driven culture, a need for advertisers to raise themselves out of the clutter and the warm feelings that the American public has for him,” Ganis said. “Phelps’ image is a perfect match for companies which want to align their brand with great success.”
Madison Avenue experts said Phelps – with his aw-shucks demeanor and humble Baltimore roots – is an ideal icon who could easily sell products ranging from food – he eats 12,000 calories a day, mostly pasta and pizza when training – to cars, clothes and shaving cream.
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