On the front page of today’s WSJ – speculation that Phelps could sign with Nike now that his Speedo contract is about up.
A sports mgmt professor suggested a bidding war could take place, and that he could be worth upwards of $50M to Nike (don’t know whether that would be what they’d offer him or what they’d make because of him), but his quote is “he could literally allow them to launch a massive swimwear company.” Imagine...
I would be a bit disappointed if Phelps signed with Nike, since he's been a Speedo guy for the last 8 years. Speedo is paying him a million dollars for those 8 swims - which apparently no insurance company was willing to underwrite.
The flip side of that is it could bring a lot more attention to swimming. Nike is the most well know brand in sports. I like it's running gear (not shoes) but generally hate their suits. I bought a couple in Portland so we'll see how those hold up.
I like loyalty but I think Nike could launch Phelps and swimming into immortality.
I would be a bit disappointed if Phelps signed with Nike, since he's been a Speedo guy for the last 8 years. Speedo is paying him a million dollars for those 8 swims - which apparently no insurance company was willing to underwrite.
The flip side of that is it could bring a lot more attention to swimming. Nike is the most well know brand in sports. I like it's running gear (not shoes) but generally hate their suits. I bought a couple in Portland so we'll see how those hold up.
I like loyalty but I think Nike could launch Phelps and swimming into immortality.
