This blog in our series for international athletes explains the key points to consider when entering into sponsorship and endorsement deals or merchandising agreements.
Most athletes in most sports have relatively few years at the top. The average playing career of a Premier League footballer is eight years, and it’s a similar story at the highest level of most other professional sports. For this reason alone, it is important that athletes and their advisers consider how to leverage their elite status and commercialise their name and image rights, through sponsorship and endorsements (and possibly also merchandising). Not only is it an important revenue stream but it may also enable the athlete to maintain their “brand value” long after their playing career has come to an end.
This blog examines some of the key issues to consider including:
- What are the different options available to athletes?
- What are the main things that athletes should be considering?
- What are the key terms to be considered when negotiating a contract?
- Marketing rights granted
- Reputation management
- Athlete’s liability
- Control and approvals
- Overall strategy