Athletes crave success, they spend years training, developing their skills and working their way up through the competitive ranks in their sport. They dream of the moment it all comes together and they achieve their goals on the big stage, but are they ready with a good athlete sponsorship and marketing plan, so they can capitalise on it when the moment comes?
In 2020, the worlds most talented sports stars will head for Tokyo and the Olympic Games, inevitably there will be drama, despair and for the chosen few, eternal glory.
Like the Olympic Games, there are countless other sporting stages around the world, that frequently throw up new talent, young emerging stars and unexpected veterans making their long awaited breakthrough, each time this happens, the value of the athlete can suddenly spike, and it’s in that moment, previously closed doors might open up – for some athletes this window might be the only one they get.
“So, it stands to reason that if an athlete is planning to be successful, they should have a plan for when they are”.
Now in this case, Sindhu is not new to success – the Olympic Silver medallist ranks in the top 15 on Forbes 2019 Highest-Paid Female Athletes in the World, a list lead by tennis player Serena Williams, however this success has raised her value considerably, especially in her cricket loving homeland.
Sports industry figures are projecting a realistic hike of 50-70% over and above her current endorsement fee, and that is for an athlete who the co-founder and director of her management firm (Baseline Ventures), Ramakrishnan R, states as being “the highest paid woman athlete in India and commands fees comparable to some leading cricketers”.
So, Sindhu is here to stay, in fact just this year she signed a sponsorship and equipment deal with Li-Ning, a deal that is the biggest of its kind in world badminton.
“It does however go to show the value increase that is possible through success on the big stage”.
With that in mind, we should be looking at the countless number of young sporting hopefuls who are so well prepared for their sport, so well supported when it comes to getting to the big events in their sport, or even just so passionate about making it to the top.
Are they in a position to make the most out of their success, or when the moment comes, will the big “off-field” opportunity pass them by, the opportunity that could have genuinely supported their aspirations for a long and successful career?
Or, possibly in an unprepared attempt to benefit from the sudden window of opportunity, they make bad decisions, decisions that might cost them heavily in the long-run.
Either way, with so many of our kids dreaming of striking it big in sport, we should make sure that they have the support and education to make good and timely decisions when they do realise their full potential.
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