I heard on NBC that Phelps earns around $5MM a year from his endorsement deals between Speedo, Visa and another sponsor that I can’t think of at the moment.
Not too bad for a swimmer…
Any idea how that compares to any of the top triathletes?
So now what for Phelps???
PHELPS FOR PRESIDENT!!!
I heard on NBC that Phelps earns around $5MM a year from his endorsement deals between Speedo, Visa and another sponsor that I can’t think of at the moment.
Not too bad for a swimmer…
Any idea how that compares to any of the top triathletes?
So now what for Phelps???
PHELPS FOR PRESIDENT!!!
I seriously doubt the top triathlete has earned $5 mill from endorsements in their careers. Also remember seeing him in a Powerbar spot, but that cannot be big bucks compared to Visa.
The word marketers like to use is “trancendance.” Does the athlete have appeal to people who don’t know and don’t care about the particular sport? In this generation Tiger Woods has it, as does Jordan, Beckham, etc. A generation ago you would say Arnold Palmer. Oddly enough the first football (US) player to have it was probably OJ Simpson.
Ours is a fringe sport that comparatively few care about (like swimming) but we do not have the world stage in the Olympics that swimming does (yet).
I’d retire…invest some my money in a fun business venture, invest the remaining in a secure fund that gives me interest and have fun for the rest of my life : )
Its very easy to earn a guaranteed 8% on money. So you take $4m, earn the interest each year and live on a salary of $320,000 per year!!! You also have the 5th million invested in a fun business!!
I’d retire as soon as I returned from China!!
Add another $1M to that figure. His Speedo contract gives him $1M if he tied Spitz’s record of 7 gold medals, which he did tonight.
I suspect it is a higher amount. He turned pro when he was 16 (ever wonder why he was not setting records in college?) His major sponsors are Speedo, Visa, Omega, and a Japanese company I can’t think of. No real need to hang it up just yet.
Yeah. And it’s more about the personality than the sport. I can’t name who won the TdF this year.
BTW - George Foreman also goes on that list.
I saw something on NBC, Micheal is 6’4" and has an upper body of a guy who’s 6 foot 8 and a lower body of someone who’s 5, 11 and a arm reach of someone who’s 7 feet tall, he is built for swimming, once in many years a guy comes along built like this!!
I can’t name who won the TdF this year.
Seriously?
Its very easy to earn a guaranteed 8% on money. So you take $4m, earn the interest each year and live on a salary of $320,000 per year!!! You also have the 5th million invested in a fun business!!
Please give us a few examples of an easy “guarenteed 8% on money”.
Most professional fund managers have failed to hit 8% gains this year due to the economic climate. Maybe you should call Phelps and offer your financial services, you are obviously very very good at this :-).
Shane D
First I don’t think money is the only motivation. Second that may be a great sign for the sport of swimming but almost a disgrace when you consider that Spain just offered LaBrawn James $50m per year to play for their team!
I saw something on NBC, Micheal is 6’4" and has an upper body of a guy who’s 6 foot 8 and a lower body of someone who’s 5, 11 and a arm reach of someone who’s 7 feet tall, he is built for swimming, once in many years a guy comes along built like this!!
That stuff doesn’t hurt, but I’ve actually got most of those characteristics (including the size 14 feet) but I don’t swim like him. It’s when these characteristics come together with the cardiovascular engine, impeccable form, strength and work ethic that magic happens. Kind of like Lance. Plus, somewhere in their lives, they need to discover the sport they’re best at. If he had tried water polo instead, he might have stuck with it.
That’s why it’s so rare.
You must have been Ian Thorpes advisor as that is pretty much what he did.The guy made his money and walked away from the sport to pursure other interests.Dudes living the sweet life now.
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I’d retire…invest some my money in a fun business venture, invest the remaining in a secure fund that gives me interest and have fun for the rest of my life : )
Its very easy to earn a guaranteed 8% on money. So you take $4m, earn the interest each year and live on a salary of $320,000 per year!!! You also have the 5th million invested in a fun business!!
I’d retire as soon as I returned from China!!
I guess you’ve never heard of inflation then? Or taxes?
It’s OK, most baby-boomers haven’t either, it’s why I have a job.
First off - He’s not going to net $5MM, after taxes, and whatever he pays his agent(s).
Nor will he keep all the income, unless your fictitious 8% fixed income investment is somehow tax-free.
Second, and more importantly - given that, at long-term trend inflation (which, btw, the current rates are running quite above, and which, for most retirees, is not really reflective of their true inflation, due to medical expenses, etc growing faster than core CPI), your income will need to approximately double in 20 years, and triple in 30 years,
simply to maintain the exact same standard of living you had when you started.
Given that Phelps is in his early 20’s, putting the lion’s share of his $ in ANY fixed income security would be a prescription for long-term financial suicide.
Principal fluctuation is not the long-term risk (to Phelps, or anybody for that matter), loss of purchasing power is.
More power to him!!! He’s gotta make hay while the sun shines.
I hope he makes a bundle. He is a once in a generation type of athlete, and has backed up all the hype, and then some.
Yes, but we’re not talking just 5 or 6M period…that is annual right now…he’s probably already a couple 10’s of millions ahead…and he’s got probably at least 4 more years at this rate…so his career earnings will likely be 40-50M…and that’s not even attempting to address increased opportunities from this week’s results.
I think he’ll be comfortable…
Add another $1M to that figure. His Speedo contract gives him $1M if he tied Spitz’s record of 7 gold medals, which he did tonight.
Tie it, or break it? I thought it was if he BROKE Spitz’s record (i.e., 8 for 8).
Incredulous no-minds want to know.
Later!
Brian
Yo…Shane…chill pill, dude.
Its ONLY an opinion…and maybe what I would do. I never siad I was offering him financial advise. Beside…it was half joking : )
People here need to chill and not get so frick’in boiled over!
Then I guess about 95% of the current general public will never be able to retire as they’ll never see $1M in the bank to be able to retire since by that time they’d be able to retire they’d need 3X that amount. We’re all screwed : )
No need to respond to the above comment as what I stated in my OP was not financial adivise to anyone it was a fun statement and something most people would have a blast thinking about. …5 mil in the bank…retire…have fun!! : )
Tour winner was Spanish (I don’t wan to name names just in case anyone’s not seen the result yet ;-), but I’m guessing that you won’t hear too much about him due to the language barriers. Still, look on the top level forum page and who do you see?
you didn’t factor in his cell phone bill. and what about his food bill-20,000 calories a day is not cheap. flawed analysis!
Credible sports marketing experts are predicting Phelps’ lifetime earnings from swimming to be ~100 million US $. I’ve heard this number thrown around more than once, he should be fine…
The other stat I’ve heard recently which bothers me, is; 60% of current NBA players will at some point in their life file bankruptcy. How does this happen? cheers