Sport Celebrity Endorsement
Pedersen, Miloch, and Laucella (2008) stated that endorsements can be quite lucrative for athletes and can have a strong return on investment for companies.
Ever since Bruce Jenner appeared on a Wheaties box in 1977, companies have used endorsements by top athletes to boost their sales. As a result, major sports stars routinely receive multimillion-dollar paydays for lending their names to products, and the practice has become so competitive that a player’s endorsement income can sometimes dwarf his or her salary or winnings.
Ever since Bruce Jenner appeared on a Wheaties box in 1977, companies have used endorsements by top athletes to boost their sales. As a result, major sports stars routinely receive multimillion-dollar paydays for lending their names to products, and the practice has become so competitive that a player’s endorsement income can sometimes dwarf his or her salary or winnings.
The NBA’s LeBron James plays for the Miami Heat, after leaving the Cleveland Cavaliers where he played for 7 years. “King James” was picked by Cleveland in the 2003 NBA Draft, and he was so savvy with securing endorsement deals that he had already negotiated one with Nike before even setting foot on the professional court.
According to Pedersen, Miloch, and Laucella (2008), "athletes who have made significant accomplishments are more likely to have a following among mainstream audiences and to have been established in the minds of consumers as an elite athlete." LeBron James is arguably the best basketball player on the planet. He is beloved in the United States and across the globe. LeBron has currently led his team to to the 2012 NBA Finals (for the 2nd time) and been named ALL-NBA 1St Team twice. He is virtual lock for the NBA Hall of Fame and a place in the conversation about the best forwards of all-time. LeBron is a truly transcendent athlete, and his endorsement potential reflects that. Not only is King James a sports star, he is entertainment superstar. LeBron has graced the cover of magazines from Sports Illustrated to Vogue. He has done things in the entertainment world that few athletes ever have, like host Saturday Night Live and the ESPY Awards (with Jimmy Kimmel).
LeBron James signed his first endorsement deal with Upper Deck in the spring semester of his senior year in high school. Hours later James would sign the richest shoe endorsement deal that any NBA rookie had ever signed. Nike signed LeBron to a $90 million endorsement contract beating out Adidas, which was the sponsor of James high school team. LeBron signed endorsement deals with a range of other top companies, including the Coca-Cola Corporation. James has endorsed a slew of Coke products, starting with Powerade and eventually moving to Vitamin water and now Coca-Cola. During the 2008 Beijing Olympics Coca-Cola ran a global advertising campaign that featured LeBron and China’s Yao Ming (www.lebronjames.com)
Today, James' endorsement contracts include the still-active Nike deal, as well as agreements with Glaceau, McDonald’s, Sprite, State Farm and Upper Deck, to name a few. In 2011, James became the new global brand ambassador for luxury Swiss watchmaker Audemars Piguet. He will in addition collaborate to produce his own limited-edition watch, for which he will donate the proceeds from any future auctions of these timepieces to his charity, the LeBron James Family Foundation (Tsai 2011). Following an agreement with Fenway Sports Group to become the sole marketer of his rights globally, in return as part of the deal James and his manager Maverick Carter became minority stakeholders in the Premier League football club Liverpool F.C. (Futterman 2011). The deal marks the first time that a professional athlete at the top of his game has taken an ownership interest in a team with the size and reach of Liverpool, which is one of the most popular and powerful sport teams in the world (Futterman 2011).
LeBron James topped the list for NBA players (3rd overall, behind Tiger Woods and Phil Mickelson) in bringing in $44.5 million in total, making it the fourth consecutive year that James has finished number one amongst his peers (Sherman 2011). His endorsements are valued at $28,000,000.
According to Pedersen, Miloch, and Laucella (2008), "athletes who have made significant accomplishments are more likely to have a following among mainstream audiences and to have been established in the minds of consumers as an elite athlete." LeBron James is arguably the best basketball player on the planet. He is beloved in the United States and across the globe. LeBron has currently led his team to to the 2012 NBA Finals (for the 2nd time) and been named ALL-NBA 1St Team twice. He is virtual lock for the NBA Hall of Fame and a place in the conversation about the best forwards of all-time. LeBron is a truly transcendent athlete, and his endorsement potential reflects that. Not only is King James a sports star, he is entertainment superstar. LeBron has graced the cover of magazines from Sports Illustrated to Vogue. He has done things in the entertainment world that few athletes ever have, like host Saturday Night Live and the ESPY Awards (with Jimmy Kimmel).
LeBron James signed his first endorsement deal with Upper Deck in the spring semester of his senior year in high school. Hours later James would sign the richest shoe endorsement deal that any NBA rookie had ever signed. Nike signed LeBron to a $90 million endorsement contract beating out Adidas, which was the sponsor of James high school team. LeBron signed endorsement deals with a range of other top companies, including the Coca-Cola Corporation. James has endorsed a slew of Coke products, starting with Powerade and eventually moving to Vitamin water and now Coca-Cola. During the 2008 Beijing Olympics Coca-Cola ran a global advertising campaign that featured LeBron and China’s Yao Ming (www.lebronjames.com)
Today, James' endorsement contracts include the still-active Nike deal, as well as agreements with Glaceau, McDonald’s, Sprite, State Farm and Upper Deck, to name a few. In 2011, James became the new global brand ambassador for luxury Swiss watchmaker Audemars Piguet. He will in addition collaborate to produce his own limited-edition watch, for which he will donate the proceeds from any future auctions of these timepieces to his charity, the LeBron James Family Foundation (Tsai 2011). Following an agreement with Fenway Sports Group to become the sole marketer of his rights globally, in return as part of the deal James and his manager Maverick Carter became minority stakeholders in the Premier League football club Liverpool F.C. (Futterman 2011). The deal marks the first time that a professional athlete at the top of his game has taken an ownership interest in a team with the size and reach of Liverpool, which is one of the most popular and powerful sport teams in the world (Futterman 2011).
LeBron James topped the list for NBA players (3rd overall, behind Tiger Woods and Phil Mickelson) in bringing in $44.5 million in total, making it the fourth consecutive year that James has finished number one amongst his peers (Sherman 2011). His endorsements are valued at $28,000,000.
References:
Pedersen, P., Miloch, K., &. Laucella, P. (2008). Strategic Sports Communication. Human Kinetics.
Sherman, J.A. (October 2011). 2011's Richest NBA Players: LeBron James, Kobe Bryant Top List. http://www.welcometoloudcity.com/2011/6/16/2227624/2011s-richest-nba-players-lebron-james-kobe-bryant-top-list
Tsai, Anthony (April 10, 2012). Audemars Piguet Announces Lebron James As New Global Brand Ambassador. http://www.network54.com/Forum/125468/thread/1302451890/Audemars+Piguet+announces+
LeBron+James+global+brand+ambassador
Futterman, Matthew. (April 2011). LeBron James, Fenway in Deal. http://online.wsj.com/article/SB10001424052748703280904576246640754493456.html.
http://www.lebronjames.com/
Pedersen, P., Miloch, K., &. Laucella, P. (2008). Strategic Sports Communication. Human Kinetics.
Sherman, J.A. (October 2011). 2011's Richest NBA Players: LeBron James, Kobe Bryant Top List. http://www.welcometoloudcity.com/2011/6/16/2227624/2011s-richest-nba-players-lebron-james-kobe-bryant-top-list
Tsai, Anthony (April 10, 2012). Audemars Piguet Announces Lebron James As New Global Brand Ambassador. http://www.network54.com/Forum/125468/thread/1302451890/Audemars+Piguet+announces+
LeBron+James+global+brand+ambassador
Futterman, Matthew. (April 2011). LeBron James, Fenway in Deal. http://online.wsj.com/article/SB10001424052748703280904576246640754493456.html.
http://www.lebronjames.com/
Recruiting and Fundraising
There are many similarities between recruiting and fundraising. The Director of Athletics is normally in charge of fundraising so his/her job is to bring enough dollars to keep the athletic department profitable. In order for coaches to succeed at the highest level they must recruit and bring in quality talent.
In both recruiting and in fundraising, coaches must be able to successfully identify prospects. With recruiting, the coaches attempt to identify the players who have talent and who can help their teams. In the way of fundraising, coaches try to find donors who have the means to help their programs.
As a coach, I believe that persistence is a key to any successful recruitment of a player. It’s seldom that an athlete commits to my program after only speaking to me one or two times. It takes many phone calls, emails, in person visits, and a level of comfort to get an athlete to commit to my program. The same holds true with fundraising. A potential donor is not just going to write a check when first contacted. A donor must feel comfortable with the coach or athletic director and the idea of where the money will be going.
According to the article, every high school athlete can be a candidate for recruitment and every individual in the world may be a potential donor. As stated with recruiting, it’s important to look for an individual who is both good on the field as well as academically and with fundraising the emphasis is placed on the donor’s relationship to the school. This could include things such as their alumnus status, the tradition of the school, or their known wealth. One important similarity of both is stewardship. As a recruit, you can’t forget about the student-athlete once they sign their letter of intent. You still have stay in contact with them through emails and phone calls, keeping them update on the progress of the program. The article says that it is important to display clippings of team success, individual workouts, awards, and big wins. By the same token with fundraising it is important to show the donor the impact of their donation by sending clippings of the schools progress in their area of contribution or even an individual athlete.
Athletic Director/Coaches recruiting and fundraising are about telling stories that illustrate what an institution stands for and the important work that it does. Putting the two disciplines together makes good sense.
The fundamentals of recruiting and fundraising are similar. Here is a list of essentials from the article but you see that both recruiting and fundraising are similar in nature.
1. Pool of prospects
Recruiting: Every kid on a high school team should be viewed as potential college player.
Fundraising: Any person is a potential donor.
2. Qualifying the pool of prospects:
Recruiting: Which high school players stand out, and more importantly which ones can qualify academically?
Fundraising: Does the potential donor have ties to the University?
3. “Ability” and “Fit”:
Recruiting: Which players can play at the college level and do they fit in your program?
Fundraising: What are the financial capabilities of the potential donor?
4. Contact with the prospect:
Recruiting: Making contact with the prospects coach or parent.
Fundraising: Making contact with someone with ties to the potential donor.
5. Research on your prospect:
Recruiting: What do recruiting services say about your prospect?
Fundraising: The AD should locate sources to find potential donors.
6. Personal contact with the prospect:
Recruiting: Contact the prospect on the phone or visit a game to make personal contact.
Fundraising: Contact by phone, visit, and invite to campus.
7. Personal connections:
Recruiting: Find people that influence the prospect whether it is a coach, parent, or friend.
Fundraising: Find an alumnus who knows the potential donor.
8. Personal visit to make the hit:
Recruiting: Make the scholarship offer or get a verbal commitment.
Fundraising: Get a commitment from the donor.
9. Final stage:
Get a commitment on paper for the recruit and the donor. This could mean a letter of intent from the prospect or a check from the donor.
10. Stewardship:
Recruiting: Send individual workouts and clips of team success
Fundraising: Send clipping on impact the donor can have on the school.
11. The continuous process:
Recruiting: When the student leaves after 4-5 years the process goes on to a new student-athlete.
Fundraising: The process with the individual goes on forever.
References:
http://tiffinonline.org/pub/content/ac21c4ad-24dd-43e5-8da1-d428a0c72c5a/Recruiting_and_Fundraising.pdf?eclg_res=1156538&eclg_resver=2150639
In both recruiting and in fundraising, coaches must be able to successfully identify prospects. With recruiting, the coaches attempt to identify the players who have talent and who can help their teams. In the way of fundraising, coaches try to find donors who have the means to help their programs.
As a coach, I believe that persistence is a key to any successful recruitment of a player. It’s seldom that an athlete commits to my program after only speaking to me one or two times. It takes many phone calls, emails, in person visits, and a level of comfort to get an athlete to commit to my program. The same holds true with fundraising. A potential donor is not just going to write a check when first contacted. A donor must feel comfortable with the coach or athletic director and the idea of where the money will be going.
According to the article, every high school athlete can be a candidate for recruitment and every individual in the world may be a potential donor. As stated with recruiting, it’s important to look for an individual who is both good on the field as well as academically and with fundraising the emphasis is placed on the donor’s relationship to the school. This could include things such as their alumnus status, the tradition of the school, or their known wealth. One important similarity of both is stewardship. As a recruit, you can’t forget about the student-athlete once they sign their letter of intent. You still have stay in contact with them through emails and phone calls, keeping them update on the progress of the program. The article says that it is important to display clippings of team success, individual workouts, awards, and big wins. By the same token with fundraising it is important to show the donor the impact of their donation by sending clippings of the schools progress in their area of contribution or even an individual athlete.
Athletic Director/Coaches recruiting and fundraising are about telling stories that illustrate what an institution stands for and the important work that it does. Putting the two disciplines together makes good sense.
The fundamentals of recruiting and fundraising are similar. Here is a list of essentials from the article but you see that both recruiting and fundraising are similar in nature.
1. Pool of prospects
Recruiting: Every kid on a high school team should be viewed as potential college player.
Fundraising: Any person is a potential donor.
2. Qualifying the pool of prospects:
Recruiting: Which high school players stand out, and more importantly which ones can qualify academically?
Fundraising: Does the potential donor have ties to the University?
3. “Ability” and “Fit”:
Recruiting: Which players can play at the college level and do they fit in your program?
Fundraising: What are the financial capabilities of the potential donor?
4. Contact with the prospect:
Recruiting: Making contact with the prospects coach or parent.
Fundraising: Making contact with someone with ties to the potential donor.
5. Research on your prospect:
Recruiting: What do recruiting services say about your prospect?
Fundraising: The AD should locate sources to find potential donors.
6. Personal contact with the prospect:
Recruiting: Contact the prospect on the phone or visit a game to make personal contact.
Fundraising: Contact by phone, visit, and invite to campus.
7. Personal connections:
Recruiting: Find people that influence the prospect whether it is a coach, parent, or friend.
Fundraising: Find an alumnus who knows the potential donor.
8. Personal visit to make the hit:
Recruiting: Make the scholarship offer or get a verbal commitment.
Fundraising: Get a commitment from the donor.
9. Final stage:
Get a commitment on paper for the recruit and the donor. This could mean a letter of intent from the prospect or a check from the donor.
10. Stewardship:
Recruiting: Send individual workouts and clips of team success
Fundraising: Send clipping on impact the donor can have on the school.
11. The continuous process:
Recruiting: When the student leaves after 4-5 years the process goes on to a new student-athlete.
Fundraising: The process with the individual goes on forever.
References:
http://tiffinonline.org/pub/content/ac21c4ad-24dd-43e5-8da1-d428a0c72c5a/Recruiting_and_Fundraising.pdf?eclg_res=1156538&eclg_resver=2150639