Phelps' 8 Golds To Net 8 Figures In Endorsements

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.


Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.