Racking up gold medals in sports like gymnastics or swimming on the world’s biggest stage is lucrative. (Just ask Simone Biles or Katie Ledecky.) Now, Suni Lee and Caeleb Dressel are looking at a seven-figure windfall.
when the network videoconferenced his family into the broadcast.“People will remember that and empathize with him,” Delpy Neirotti says. “A star like this is also relatable to others, and when he breaks down and shows emotion like that, he’s relatable.”
This Olympic and Paralympic cycle also provided both athletes and brands with new marketing opportunities. In advance of the Tokyo Games, the IOC introduced a relaxed version of Rule 40, a provision that protects the Games’ exclusivity and intellectual property for official Olympic sponsors by limiting other non-sponsor brands from getting involved. For example, when Nike was an official sponsor of the Olympics in years past, an athlete like Biles wouldn’t have been able to wear Athleta gear at the Games. Under the new version of Rule 40, she can.
However, a key caveat of the new ruling is that non-Olympic sponsors can’t mention the Games in their brand advertising, so as to maintain Olympic sponsor exclusivity.“It hasn’t really worked out as intended for the lower-profile athletes,” says John Grady, a sports law professor at the University of South Carolina. “But it has worked out tremendously for people like Simone Biles and Michael Phelps and Katie Ledecky.” headtopics.com
Rule 40 is still a work in progress, according to Brant Feldman of American Group Management, which represents Olympic and Paralympic athletes for endorsement deals. With each Olympic federation interpreting the provision in its own way, there are regulatory questions that need to be sorted out. “It’s way more complicated than that,” Feldman says.
Until then, and as Paris 2024 quickly approaches, the table is set for Lee and Dressel. And youth is on their side. Lee, who turns 21 in 2024, could still be in her prime as a gymnast for the next Olympics. She plans to compete at Auburn in the meantime, which also adds to her earning potential with the
emerging name, image and likeness marketat the college level. Dressel likely has another Olympics run left as well: He will be 27 at his next Olympic Games.“They both came at a perfect time,” Delpy Neirotti says, adding, “It’s going to be advantageous for both of these stars in terms of commercial value.”Read more: Forbes »
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Suni Lee wins bronze in bars despite rare mistakes, adding to gold and silver medalsUneven bars are considered one of Lee’s specialties, but the young gymnast made a few uncharacteristic slip ups in Tokyo on Sunday. On the 12th day of Christmas LeMickey gave to me 12 excuses given 11 choked quarters 10 faked finals 9 tears to the refs 8 missed free throws 7 flops and travels 6 finals losses 5 turnovers 4 clutch checks 3 superteams 2 bailed out rings And an undeserved Mickey Mouse ring More balls than Simone Bails