Money Ball: News Bites from the World of Sports Sponsorships
When it comes to the Qatar world cup sponsorships, companies worry about perceptions, while individual athletes have less to lose reputationally; sponsorship from the crypto market remains strong despite recent downturns; and the world’s highest-paid 10 athletes close in on a billion dollars thanks in large part to their off-the-field income.
As World Cup Nears, Brands Weigh Cost of Teaming With Qatar (The New York Times) “Celebrity athletes and sponsors are having to tread (the line) when it comes to the Qatar World Cup, which since its inception has been mired in controversy and complaints about the country’s treatment of migrant workers and the gay community…Multiple companies, and even the federations of some participating nations, are taking steps to distance their brands from the host country even though they have paid millions of dollars to attach themselves to the world’s most high-profile sporting event.”
The Crypto Market’s Impact on Sports Sponsorships (Front Office Sports) “The prevailing sentiment from experts and executives is that although the market volatility is significant, the biggest exchanges — which make up most of the meaningful sports sponsorships — are so capitalized from the previous two-year bull market that there is little concern for payment issues.”
The World's 10 Highest-Paid Athletes 2022 (Forbes) “Lionel Messi leads a group that collectively earned more than $990 million in 12 months, with the bar for entry higher than ever…Off the field, the top ten athletes hauled in an estimated $500 million from endorsements, appearances, memorabilia and licensing fees, as well as the cash returns from businesses they operate and equity stakes they sold.”
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