August 18th, 2008
05:54 PM ET

Endorsements pure gold for Phelps

[cnn-photo-caption image=http://i2.cdn.turner.com/cnn/2008/images/08/18/art.phelps.jpg]
Having completed his Olympics gold rush, U.S. swimmer Michael Phelps is now poised to make another haul - this time of the endorsement variety.

Michael Phelps' performance in Beijing puts him in line to earn much in endorsements.

Phelps already is collecting about $5 million a year in endorsement checks from companies like Visa - payments that came after he won six gold medals during the 2004 Olympic Games in Athens, Greece.

His performance in Beijing, where he won a record eight gold medals, puts him in line to earn much more.

"He may be at $30, $40, $50 million a year in endorsements after all this is said and done," said David Harrow of the National Sports Lawyers Association.


Filed under: 360° Radar
soundoff (14 Responses)
  1. EJ (USA)

    "EJ, you are bang on with Ms Torres; lost by the slimmest of margins; if only her nails had been a teeny bit longer. She was amazing!!!!"

    She is... and she actually outswam her opponent in that relay race where the US team won silver – She just couldn't make up all that time to catch up – but she was the fastest swimmer.

    She's got it going on. I see her cute modeling pics all over the internet. I hope she gets a lot of attention & endorsements too. Wonderful. I wish her all the best and great fun with her husband & 2 year old daughter.

    August 18, 2008 at 11:42 pm |
  2. EJ (USA)

    It’s always fun to see a new sports super hero crowned. It’s fun because those people who hardly ever pay attention to sports (like me) pay attention! I love his background too. I’m very proud and I wish him continued succes. (Don’t overspend and go bankrupt like those other celebrities – Put some away for your old years and your family & future kids!!!) : – ) That’s my advice – and have fun.

    I don’t think Baltimore has ever been so proud of someone/something since that show Homocide aired (based out of Baltimore). They always loved Cal Ripken, and now they have another hometown hero.

    How does it feel to have Hollywood and people like Kobe Bryant and LeBron James awing at your unique talent? That must feel so wonderful – so amazing – such an accomplishment. We are all so proud of you!

    August 18, 2008 at 10:49 pm |
  3. Larry

    EJ, you are bang on with Ms Torres; lost by the slimmest of margins; if only her nails had been a teeny bit longer. She was amazing!!!!

    August 18, 2008 at 10:47 pm |
  4. Jo Anne Cummings

    Does this guy (Phelps) deserve a cheeseburger or what???????? maybe even in paradise....great job MP.

    August 18, 2008 at 10:00 pm |
  5. EJ (USA)

    The 41 year old mom who won silver is awesome too. Dara Grace Torres.

    August 18, 2008 at 9:52 pm |
  6. bobfromtempe

    bravo to michael and his impending riches to follow, or i should say, continue... i especially have to give him extra credit when he sat down in front of the world's media and after being asked what he wanted to do next, perhaps to celebrate he answered, with no specific brand name as he said "i just am craving a really big cheeseburger and fries"... now i am paraphrasing and i am a vegetarian but objectively and from a pending endorsement standpoint, he is brilliant for not stating what kind of fast-food american favorite and if a smaller chain of restaurants like a carl's jr makes the right play with the right giant, american-sized sloppy cheeseburger and makes phelps the big get, because americans are such sheep and we are raising are children to take such sheepdom to the next level, they could snag a huge chunk of market-share with a winner like phelps... and now that i think about it, he could probably appear alongside another american, paris hilton for synergistic shock value... 🙂

    August 18, 2008 at 9:47 pm |
  7. Annie Kate

    That one meet he won by a hundredth of a second still takes my breath away. Phelps has been amazing to watch and I hope all the best for him.

    Annie Kate
    Birmingham AL

    August 18, 2008 at 9:43 pm |
  8. Larry

    I have nothing but the utmost respect for what Michael Phelps ( and his team mates) achieved. I do like the word that has evolved from one of the commentators 'phelpsian', it is a wonderful word:)

    August 18, 2008 at 8:40 pm |
  9. EJ (USA)

    I love stories like those of Michael Phelps. I am so happy for him and his family. That is so amazing. He is now the Tiger Woods of swimming.

    Rake in all the money you can babee!

    August 18, 2008 at 8:06 pm |
  10. Michelle Fonthill Ont,Canada

    Hi Erica
    Micheal Phelps is awsome ! He has worked so hard and reached for the stars no doubt. Seeing his performance was definetly worth the price of admision in Beijing!!!


    August 18, 2008 at 7:37 pm |
  11. Megan Dresslar

    Hello everyone!!!
    Last Friday, I am so exciting for Michael Phelps got 8 times row, got 8 gold medals!!!!! I am so thrilled for him. what athlete is most amazing race!!! that is almost miracles!!! I am so proud of him as his mom proud of him too. I am so really honor to him that during ceremony our President Bush gave a award for him, I am so happy and crying my face……. what race for him!!!!!! also most world record 8 times. I am thinking maybe guiness world book this year!! 😉 Wow! that is lots of money for him.........
    Megan D.
    Shoreline, Wa

    August 18, 2008 at 7:28 pm |
  12. Melissa, Los Angeles

    He was absolutely amazing to watch along with the rest of his team mates for the relay. After all that hard work – he deserves every penny that these companies are willing to pay him.

    August 18, 2008 at 6:57 pm |
  13. Heather,Ca,US

    Like his teammates have said,there is a new standard forget the gold standard its the Phelps Standard!He is worth all of it!

    August 18, 2008 at 6:21 pm |
  14. Betty Ann Taylor, Nacogdoches,TX

    Phelps story is so cool. A severe case of ADHD with a supportive family. What an inspiration he is!
    We are proud of you Michael!
    His story gives me hope! 😉

    August 18, 2008 at 6:20 pm |