Phelps boost brands
The greatest Olympic athlete so far, Michael Phelps is lifting up sponsors brands.
Phelps, who already receives an estimated $5 million annually in endorsement deals - more than 10 times what most of the high-profile athletes in his sport make - is likely to see his net worth increase by tens of millions of dollars.
According to Joyce Julius & Associates, Phelps’ air time on US network NBC has been worth $3.6 million for Speedo alone. Also senior vice president for marketing and sales for Speedo, Stu Isaac, said: "Truly, we've been able to leverage his popularity with all of our accounts because he has transcended swimming. It's helping Speedo become cooler and addressing a younger market outside just that core competitive swimmer."
Speedo offered a $ 1 million bounty if Phelps, only 19 at the time, could equal Mark Spitz´s record of seven gold medals, but the offer still stands for Beijing 08.
Phelps other sponsors include Visa, AT&T, Kellogg's, Hilton and Omega watches.
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