The Mechanism Of Sports Superstars And Their Endorsements
It’s no secret that there is a ton of money in sports. Athletes these days make more money than anyone. Sportsmen are celebrities with a huge fan following making them a perfect fit for endorsements.
Sports superstars have turned into branding goldmines. Sports celebrities have not restricted themselves to endorsing only sports-related products and services; they are doing all sorts of endorsements.
Being a high-level athlete tends to be very lucrative. People have multi-million dollar contracts to show for it. The likes of LeBron James, Sachin Tendulkar and Cristiano Ronaldo get handsomely rewarded for being the best in their respective sports.
Currently, Virat Kohli is one of the highest-paid sportsmen with the biggest endorsement deals. Endorsement deals have predominately become the primary source of income for athletes.
Renowned names like Lionel Messi, whose success and popularity globally have declared him as one of the best soccer players in history are recognized, Adidas-sponsored athletes. He signed a lifetime deal with the company but the size of that deal hasn’t yet been made official.
People trust celebrities which is why well-known brands want to be associated with them. Most sportsmen continue endorsements even after retirement. One of the rare top endorsed athletes is David Beckham, who is retired. He has multiple contracts with top-notch brands.
These endorsements not only make the celebrities popular and well-known globally, but also make them richer. More fame brings more money and glory to the brand signings!