Question

Topic: Strategy

Athlete Endorsement Deal

Posted by Anonymous on 7/15/2010 at 2:07 PM ET 125 Points
I have a T-shirt design company and I have 5 character concepts that I am trying to brand. One of my characters has been in existence for 19 years. I have a Pro Athlete that showed interest in this character 10 years ago and made a promise that when he made it to the Pro league he would come back to promote this character. That time is here and I need to write an endorsement contract. The goal is to offer him equity in the company in exchange for complete access to him for all forms of promotions. I feel that a full endorsement contract is needed. I do have some experience in writing contracts as I have been in and out of this business for years. Him, his agent and his representative his given me a full commitment on endorsement. At this point we still need funding for the project. The Question: How do I turn this endorsement contract into money? I know that this endorsement can bring investor interest and investor funds plus open other doors. How would you proceed at this point? Thanks in advance

Michael Williams
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RESPONSES

  • Posted on 7/15/2010 at 3:48 PM Author
    I did not mention it but I already have the full business plan done. The goal is to intise the potential investor/investors with the IP (Intellectual Property) for the characters. The cost for the IP through an IP firm is about $20K and this cost is in the business plan. This will give the investor a large equity stake in the company. I am confident now that we are getting the endorsement that we will get funded. But I will take your advice on getting the contract drafted by an attorney. Thank you for the insight Phil.

    Michael Williams
  • Posted on 7/15/2010 at 4:32 PM Accepted
    You will also need the investor presentation if you're raising money for this venture. Maybe your business plan will be sufficient, but maybe you'll need something a bit more "sexy" for them -- perhaps even including a cameo appearance by your celebrity.

    Investor presentations are an art form of their own. I've done a few for clients, and I know what a challenge they are -- even when you have a solid business plan in hand.
  • Posted on 7/15/2010 at 5:13 PM Author
    Dear Mgoodman,

    You can't get anymore sexyer than that. That's the greatest idea I never thought of. That would have a hugh impact on any investment meeting. I've already got several investors on the hook and that is the bait to reel them in. 1000 times, Thanks

    Michael

  • Posted on 7/15/2010 at 8:08 PM Accepted
    Just remember that the investor meeting is THEATER as much as a business presentation. Investors are suckers for good drama, just like the rest of us. Be sure to "stage" the appearance of your celeb and milk it for all it's worth!

    Good luck.
  • Posted on 7/15/2010 at 10:19 PM Author
    I'll do that, thanks for all of your advice.

    Michael Williams
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