As the Olympics come to an end, Michael Phelps has another gold rush headed his way. This time – the gold is worth mega bucks, and he’ll be able to turn it into cold, hard cash.
After setting a new gold standard in Beijing, the advertising industry has taken notice of Michael Phelps. Not since Tiger Woods, has the sports marketing industry become so enamored with an individual athletes.
Last week’s USA Today interviewed several professionals in the sports marketing and advertising profession to get the industry’s feedback. Apparently, Phelps is looking at a variety of opportunities including endorsement deals, TV commercials, licensing, and public speaking gigs. Phelps mother, Debbie, is also being approached about a book and was already dubbed the official “Baby Mom” of the Games by Johnson & Johnson.
The eight gold medal win could be worth up to $50 million. Phelps currently has sponsorships with Visa, AT&T and Speedo that will more than likely carry over to the 2012 London Olympic Games, where Phelps has already stated he will be swimming again.
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