There have been lots of endorsement deals down through the years. Athletes have been called upon to promote everything from underwear to soft drinks. Some sports sponsorship contracts have been flops. Others have been quite successful. Some of the biggest endorsement deals have changed the way that consumers buy products.

Michael Jordan Signs with Nike

It’s safe to say that the biggest endorsement deals are not always about the money in the initial stages. There are times when the significance of the deal is based on the risk factor. The way that consumers respond to the endorsement also plays a factor.

Jordan signed with Nike for $500,000 before he ever really proved himself on the court. Today he earns $45 million annually from the endorsement that is still going strong into his retirement years. It has been one of the biggest and most lucrative deals in history.

Tiger Woods and Nike

Michael wasn’t the only one that benefited from the sports marketing campaign ran by Nike. Tiger Woods received a five year 70 million dollar contract with Nike even in the midst of a crumbling marriage. This was a great deal that has added even more to the Tiger Woods endorsement empire.

George Foreman and Salton

Foreman has been out of the ring for a long time, but he’s still a tough competitor in the world of grilling. Salton gave Foreman $137 million in cash and stock for a contract to use his name for the Foreman grills. This has been on the biggest products on the planet. The endorsement deal led to a product that is used in millions of households around the world.

Venus Williams and Reebok

Reebok proved that Nike wasn’t the only one that could get the stamp of approval from famous athletes. In 2000 Venus signed a $40 million contract with Reebok for 5 years. It was the biggest endorsement deal in history for a female athlete. It was monumental because it marked a new era in consumer marketing. Females have always had a role in sports, but the contract was evidence that there was power in female endorsements.

Lebron and Nike

It’s hard to mention endorsements without mentioning Lebron James. He was a high school talent that took over the NBA was the style and grace of a veteran. Today James has endorsement deals with lots of organizations, but Nike has been the most profitable deal for the NBA star thus far.

The 90 million dollar contract is just another deal that will bring in lots of revenue for Nike. The Nike franchise grew from $900 million in revenue to over $18 billion with Jordan. They hope for the same success with James.