American swimmer Michael Phelps won eight gold medals at the 2008 Summer Olympics. Phelps' remarkable accomplishments at the Beijing Games could lead to very lucrative endorsement deals with a variety of advertising sponsors. Reports say Phelps could be in line for endorsement deals of up to $50 million a year.CNN.com: Endorsements pure gold for Phelps
Quotes
"Phelps will reap the biggest financial reward from water since Jaws."— Howard Freeman, president of Promo 1 marketing companyDaily News: After 8 gold medals in Beijing, huge sponsor deals likely...
"If he's handled properly over the next four years, he should generate in excess of $40 million."—Marc Ganis, president of Sportscorp Ltd.Daily News: After 8 gold medals in Beijing, huge sponsor deals likely...
References
Fast Facts
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Michael Phelps could reportedly receive endorsement deals of up to $50 million a year after his wins at the 2008 Summer OlympicsCNN.com: Endorsements pure gold for Phelps
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Phelps got a $1 million bonus from Speedo prior to the 2008 OlympicsCNN.com: Endorsements pure gold for Phelps
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Phelps planned appearances for Omega and Hilton Hotels during the remainder of his time in Beijing, ChinaThe Wall Street Journal: Now, Phelps Chases Gold on Land (August 18, 2008)
