The Secret to Sports Endorsements? Not Exactly
Athletes contact me almost every day to ask how they can procure sports endorsements to further their career. I have been contacted by athletes ranging from established professionals who have lost their sponsorships for various reasons to novices who have not yet embarked on their career because they need funding to pursue their sport.
Oftentimes I am surprised that these athletes believe that all they need is an agent and the sponsorship money will automatically follow. Unfortunately, it is nowhere near that simple. As this article says, even Olympic medal winning athletes from Vancouver are going to struggle to find endorsements.
But the vast majority of Olympic athletes — even those who won medals — will have a harder time cashing in on their appearances at the Games. Winter sports like speedskating and bobsledding will all but disappear from the airwaves and, for many Americans, interest in them will not grow again until the next Winter Olympics in 2014.
If Olympic medal winners are struggling, that is an indicator that everyone else is strugglin as well. Companies are cutting back. Businesses are frugal with their dollars. While athletic sponsorships may be returning according to some published reports, it is still difficult to find money. I am not suggesting that it is impossible or that athletes should give up their dreams. Instead, I just want athletes to be realistic in their goals. Companies carefully scrutinize the athletes they endorse, and they have limited budgets. Unfortunately, it is not quite as simple as making on phone call to an agent, and then procuring sponsorships!
