What is one thing that is common in the life of a professional athlete? The answer to this is that those individuals will either hire an agent or consulting firm to negotiate various aspects of their life such as contracts or corporate sponsorships. These agents assist in every facet of an athlete’s life. This can include anything from professional issues to personal issues. One key contribution that an agent can make in an athlete’s life is strategic planning. According to------ strategic planning and management is defined as ‘the act of consulting about solicitation and securing corporate sponsorships” (2014, p.243). In the same way that athletes gain sponsors, so does a team, sporting events, and festivals. Sponsorships can be one of the largest money makers for a team
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Sponsorship and licensing solicitation includes the ability of a third party organization such as a sports agent or marketing firm being able to acquire a corporate sponsorship for an individual athlete. Aspects of a sponsorship deal that an athlete will sign is something such as “personal appearances, product placements, book contracts, movie and television roles, interviews and feature stories, video games, etc.” (2014, p.244). One of these such sponsorships that come to mind is the partnership between Stephen Curry and Under Armour. In 2013, this deal included an offer that topped the Nike offer of less than $4 million per year. These types of sponsorships can typically have a great outcome for both parties. For this deal, according to an article published on ESPN.com, this deal caused an increase in shoe sales of over 40 percent in one-quarter of a year (Rovell, 2015, p.1). Rovell goes on to state that with the release of the Curry One, “Under Armour sold a record $153 million in shoes in three months” (2015,
Sponsorship and licensing solicitation includes the ability of a third party organization such as a sports agent or marketing firm being able to acquire a corporate sponsorship for an individual athlete. Aspects of a sponsorship deal that an athlete will sign is something such as “personal appearances, product placements, book contracts, movie and television roles, interviews and feature stories, video games, etc.” (2014, p.244). One of these such sponsorships that come to mind is the partnership between Stephen Curry and Under Armour. In 2013, this deal included an offer that topped the Nike offer of less than $4 million per year. These types of sponsorships can typically have a great outcome for both parties. For this deal, according to an article published on ESPN.com, this deal caused an increase in shoe sales of over 40 percent in one-quarter of a year (Rovell, 2015, p.1). Rovell goes on to state that with the release of the Curry One, “Under Armour sold a record $153 million in shoes in three months” (2015,