Olympic legend Michael Phelps, U.S. swimmer and winner of eight gold medals at the Beijing 2008 Summer Olympics, has an endorsement deal that has raised eyebrows. While we may have expected to see Michael Phelps on a box of Wheaties, Breakfast of Champions, instead we will see him on Kellogg’s Corn Flakes and Kellogg’s Frosted Flakes.
You better eat your . . . Frosted Flakes?
Olympic legend Michael Phelps will appear on boxes of the Kellogg’s brand sugar cereal, drawing sharp criticism from health experts worried about the message he’ll be sending to children across America.
“I would not consider Frosted Flakes the food of an Olympian,” said nutritionist Rebecca Solomon of Mount Sinai Medical Center.
“I would rather see him promoting Fiber One. I would rather see him promoting oatmeal. I would even rather see him promoting Cheerios.”
Source: Breakfast of a champion? Frosted Flakes! Phelps signs with cereal
The Kellogg’s deal is just the first of what is certain to be many high profile endorsement deals for Michael Phelps. In the aftermath of Michael Phelps’ historic accomplishment at the Bejing 2008 Summer Olympics, speculation abounds as to his marketability; quite literally, how much is his well-deserved international fame worth?
Companies are already lining up to hand Phelps millions of dollars to associate himself with their products. He could soon be the face of a revamped and expanded swimming headquarters in North Baltimore. Some have even suggested that Hollywood snap him up to star as an aquatic superhero.
Phelps has secured his status as the star of these Olympics, but he has gone beyond that, said Bob Dorfman, who studies the marketing potential of Olympians for Baker Street Partners of San Francisco.
“I can’t see any other story surpassing his,” Dorfman said. “People just can’t believe what he’s been doing. There is a superhuman aspect to it. From that standpoint, he’s hard to top.”
Some marketing experts wonder if Phelps will remain hot during the long downtime between Olympics but for now, they say he has doubled his earning potential to at least $10 million a year and could become one of the richest Olympic endorsers in history.
Companies such as Visa, Speedo, Omega, Hilton and AT&T agree and have signed deals with the all-time leading gold medal winner. Visa had a new commercial, narrated by actor Morgan Freeman, ready to roll as soon as Phelps won his last race. AT&T’s commercials, featuring a young woman as an obsessed “Phelps Phan,” have been ubiquitous throughout the games.
Kellogg’s will put Phelps’ mug on Corn Flakes and Frosted Flakes, according to Access Hollywood. The swimmer’s longtime agent, Peter Carlisle, told The Wall Street Journal that Phelps’ Beijing performance will double his endorsement income and be worth an extra $100 million over his lifetime.
Phelps could certainly pull in eight figures over the next year, said Ryan Schinman, founder of New York City-based Platinum Rye Entertainment, which matches celebrity endorsers with Fortune 500 companies.
“Right now, the guy’s got the world on a string,” he said. “He’s in that upper realm, not in terms of income but in terms of profile, with Tiger Woods and LeBron James and Lance Armstrong.”
Source: Companies vie to hand Phelps money
Kellogg’s Corn Flakes box image via Cover Awards – Sorry Wheaties! Michael Phelps Kellog Endorsement First Look
Related posts:
- Photos: Michael Phelps Wins 8th Gold Medal at Beijing 2008 Summer Olympics
- Video & Photos: U.S. Men’s 4×100 Freestyle Relay Takes Gold 2008 Summer Olympics
- Eight Gold Medals Michael Phelps Sports Illustrated Cover August 25, 2008
Michael Phelps Will Endorse Kellogg’s Corn Flakes and Kellogg’s Frosted Flakes
