Michael Phelps and gold will continue to go hand in hand due to his record-breaking Olympic performance, and thanks to endorsements it looks like the history maker won't go without for quite some time. Marketers from all walks of business have been trying to get their hands on Michael's buff bod to represent their brands.
We know he's money, but are you?
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Olympics fans have been riding on a Michael Phelps wave since he began winning his eight gold medals in Beijing and breaking world records. But sporting the gold isn't a new thing for Phelps — he won six medals in Athens four years ago, and has been collecting about $5 million a year in endorsement checks from VISA after that impressive, teenage performance.
The 23-year-old Phelps has proven his talents have gotten better with more experience and advertisers are now paying even more attention.
on Yahoo! |
Athletes competing in Beijing are not paid for their participation, but American competitors who come out on top are rewarded in cash by the US Olympic Committee. Of course, the real money is in promotional contracts: Some of the most stellar athletes, like Michael Phelps, bring in millions with marketing deals.
Do you know how much the gold, silver, and bronze medalists are given as prizes for being the best?
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