Monday, August 18, 2008

The Michael Phelps Cha Ching

According to WSJ:

Phelps made an estimated $3 million to $5 million a year through his endorsements before these Games, a huge sum for an athlete in a sport rarely televised outside the Olympics.

A key decision for Phelps will be whether to renew his contract with Speedo, the swimsuit maker that sponsors Phelps and offered him $1 million if he won seven gold medals. But, "Michael Phelps would be worth $40 or $50 million to Nike," said Howard Bloom, who teaches sports management . "He could literally allow them to launch a massive swimwear company, and I think you are going to see an incredible bidding war for him."

"I'd say $100 million over the course of his lifetime," is what he will earn according to his agent Peter Carlisle.

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