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Phelps' Quest for the Gold Is Just Beginning

Marketing the Olympic swimming star could bring $100M

By Jim O'Neill,  Newser User

Posted Aug 18, 2008 10:32 AM CDT

(Newser) – Even before Michael Phelps dove into the pool in pursuit of his eighth gold medal, another epic task had begun: Turning the swimming star into a marketing icon. By the time he’d collected his final piece of gold—along with a $1 million bonus from Speedo—the 23-year-old was well on his way to an Olympic-sized payday, reports the Wall Street Journal.

Phelps has offers on deals ranging from dog food endorsements to movies to bobblehead dolls and tuxedos. He’s been offered free pizza for a year, dental work, and has had more than a few inquiries from female Phelps Phans. The value of his eight golds? "I'd say $100 million over the course of his lifetime," says his agent, who's fielding an average of 50 calls a day.

This combination of photos shows United States' Michael Phelps holding each of his eight gold medals.
This combination of photos shows United States' Michael Phelps holding each of his eight gold medals.   (AP Photo)
Michael Phelps of the United States with his gold medal in the men's 200-meter individual medley.
Michael Phelps of the United States with his gold medal in the men's 200-meter individual medley.   (AP Photo/Itsuo Inouye, file)
The United States' Michael Phelps reacts on the podium after receiving his gold medal in the men's 4x100-meter medley relay final.
The United States' Michael Phelps reacts on the podium after receiving his gold medal in the men's 4x100-meter medley relay final.   (AP Photo/Mark Baker)
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"Phelps would be worth
$40 million or $50 million to Nike. He could allow them to launch a massive swimwear company, and I think you are going to see an incredible bidding war." - Howard Bloom, sports management expert

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