Now, They're Lovin' LeBron, Too!
Since last November when Tiger became a “Cheetah,” sports marketing pundits ran over each other in the rush to proclaim “the death of athlete endorsements.” Tiger Woods killed them all, right?
“Radioactive.” “Undependable.” “Too risky.”
Baloney!
The celebrity endorsement industry is over 100 years old. One philandering athlete …. even of the status of Tiger Woods …. is not going to nullify the marketing value of endorsements. And, today comes the news that McDonald’s has retained the services of LeBron James for a multi-year, multi-million dollar, multi-faceted series of sports marketing promotions. Bravo, McDonald’s. Congrats, LeBron. It seems this segment of the industry is indeed alive and well.
Will endorsing companies do better due diligence about their athlete’s character? Sure.
Will endorsing companies negotiate stronger morals clauses? No doubt.
Will endorsing companies hesitate before committing to long term arrangements, especially those involving investment in licensed products with long shelf lives? Yep.
As well they should.
However, even in the aftermath of Tiger, life in the athlete endorsements industry moves on.
Posted by Ken Ungar.
