Olympic Boom to Bust

Michael Phelps has made history. 8 Gold medals in 8 events, and the most decorated Olympic athlete the US has ever had. In moves big business.

Numbers are being thrown around now that this could help achieve $30, $50 even $100 million in endorsements for him over his lifetime. He could be the next Tiger or MJ. I dissent.

My prediction is that he may sign a deal or two, but that the results from those deals and fervor over him will fade. The deals will disappear, and he will become another quiet success in the Olympic annals.

Why do I believe this? It comes down to two fundamental challenges. First, swimming is not a sport that is splashed (pun intended) in front of the public all the time. Thus there will be limited exposure of Michael in his element to support a brand. Second, the athlete who endorses a brand has to have charisma. While Michael seems like a nice enough guy, I dare say I have not seen the level of charm and natural ‘chutzpa’ required to really support the numbers being thrown about.

Sorry to be such a naysayer at this time of hype and hysteria. Sometimes someone needs to try and be the realist. Part of the appeal of blogs is being able to stake out a controversial position and defend it- right or wrong.

I may be proven wrong, and hope I am.