Athletes in Scandal and Endorsement Deals
All civilizations have celebrated the athletic achievements of their most accomplished citizens, from the ancient Greeks contesting the first Olympic Games to the jousting knights of medieval Europe, and societies have typically rewarded their most elite athletes with superior status, financial incentives, and social standing. Within the realm of modern American athletics, our nation's unique blend of personal liberty and capitalistic ambition has long created a class of professional athletes who are revered as heroic figures and who are compensated commensurately. The multi-million dollar guaranteed contracts which are now de rigueur for American athletics are also accompanied by lucrative endorsement deals which are lavished on the most famous players within each sport or league. While the phenomenon of private companies paying athletes to publically endorse products is nothing new, as Babe Ruth proved during his heyday in the 1920's by shilling for everything from cigarettes to candy bars, the advent of television and internet technology has enabled athletes to endorse far more products on a far greater scale than ever before. While the attainment of physical prowess and the pursuit of healthy competition once formed the foundation of athletics in this country, today young athletes in every sport aspire not to win championships, but to secure shoe contracts and television appearances. The relationship between athletes and the companies they represent can be fraught with ethical concerns during the best of times, but as the recent scandals involving Olympic swimmer Michael Phelps, world class golfer Tiger Woods, and acclaimed cyclist Lance Armstrong have proven, the intertwining of athletics and avarice can result in extremely complex ethical dilemmas.
After a British tabloid published photographs in 2009 depicting Phelps in the act of smoking marijuana,...
Scandal/Controversy in Sports The following will take a look to see if scandal and controversy benefit sports. Background of Sports Industry and Scandals Sports in the U.S. is a multi-billion-dollar industry. Companies try to engage with clients by aligning the services and products they offer with this well-known industry via sports funding and endorsement. The benefit of this involvement has been well-recorded in the sports marketing literature (Hughes and Shank, 2005). The effect
Celebrity Endorsement Strategy: An Investigation Using Nike's relationship with Federer as an example, the paper analyzes the use of celebrity endorsement strategy of the brands beginning from choosing the right celebrity figures until the final results of the strategy. Many industries promote their products by hiring the services of influential celebrities who advertise the products in question. The celebrity has to have various characteristics in order to be seriously considered
athlete concerning intimidation, eligibility and elimination, technology in sports, commercial sports, ergogenic aids, violence and principles and exceptions. The explanation is going to be based on the types used, how effective they are and the consequences of them in the field of athlete. Violence is the act of using great force or doing something which one accompanies by great force. Intimidation can be described as to frighten someone to
Nike apparel company is a steadfast company in the minds of most athletic gear and apparel consumers and in the industry as a whole, with substantial earnings growth even in the last few years of recession it has still managed to record substantial growth. The company has even coined household phrases like "Just Do It" a mark of American influence over the global market. Much of this success has
5% of total liabilities. Their retained earnings, on the other hand, total $5.073 billion. The heavy use of retained earnings is partially explained by their view of themselves as a growth company. While they pay a dividend, Nike prefers to re-invest much of its profits back into expansion. They do not feel that the market has matured sufficiently to stop their aggressive growth strategy. Another consideration in their capital structure
The growing numbers of Americans who regularly flocked to these municipal golf courses convinced municipal governments that the sport was here to stay and that additional investments were warranted, and existing municipal golf courses were expanded and improved during the 1920s and a number of entrepreneurs across the country also enjoyed success by opening daily fee-based golf courses (Kirsch, 2007). During the early 20th century, a number of major
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