2024 Paris Olympic Games: Athletes set to make big money
They won gold in the Paris Olympics and now these stars are about to strike gold out of the water and off the track as big deals come calling. SEE THE LIST
The phone has been ringing hot with big-name sponsors wanting a piece of the action.
From the moment Australian champion paddler Jess Fox won her second gold medal at the Paris Olympics, the race has been on to sign her up to commercial deals.
Fox’s manager Josh White has been inundated by potential sponsors and public speaking opportunities, and has been locked in meetings all day in Paris since his star client won the canoe slaloms, adding to the gold medal she won at the Tokyo Olympics three years ago.
It was after that breakthrough win that Fox really became a big name with sponsors, White said.
See the top 10 athletes set to cash in from Paris 2024 below
That’s the incredible value of athletes winning gold and now is the time for the gold medallists to cash in.
Adding two golds in Paris and planning to compete until at least Los Angeles 2028 means she will simply continue to reap the financial rewards.
“There was already a compelling story about Jess coming into these Games but for someone like here when she ticks all the (gold medal) boxes she dreamt of ticking then there’s going to be a lot of interest from the commercial sector, for speaking engagements and other appearances,” White said.
Other Australian Olympians doing well commercially are swimming star Ariarne Titmus, who is a constant presence on Harvey Norman ads, and new BMX gold medallist Saya Sakakibara, who has a dozen sponsors and suppliers – and can bank on much more after winning in Paris.
While it is time for the athletes to make hay, sports consultancy Gemba is offering a cautionary tale.
Gemba’s pre-Paris study showed the marketability of many Australian gold medal winners relative to other athletes in the market obviously surged during the Tokyo Games held in 2021. But within less than two years, that marketability had in many cases fallen back to pre-Tokyo levels.
Gemba managing director Andrew Condon said the reality was that for six to eight weeks the best performing Olympians and Paralympians were among the most marketable athletes in the country.
“If managed well they may be able to convert this into some form of commercial support. Of course there will be plenty of speaking engagements and perhaps the odd reality TV appearance request,” he said.
“But the reality for most Olympians returning with medals, when they are no longer as visible and their sport is niche again their commercial appeal will have significantly diminished.”
Rohan Sawyer, a managing director at Bastion, says athletes have to adopt an “always on” approach to maintain a strong personal brand and keep building content and their profile well past any gold medal success.
“Brands seek ambassadors who succeed in their sports and connect authentically with audiences. They look for athletes…sharing their narratives, and engaging with consumers across various platforms. A strong social media presence, the ability to represent a brand in various contexts, and alignment with the brand’s values are crucial attributes.”
White says the key for Fox will be making sure there’s enough categories to satisfy the demand from new sponsors and not dilute the brands who have been paying her good money for many years.
“We only do multi-year deals for Jess and don’t do one-off brand endorsements. We don’t want Jess to jump from brand to brand and we make sure that each commercial deal she does is very different to the others she already has.
Jess is not going to retire any time soon, so we have got another four years through to LA that builds her up commercially to be in a very strong position.
Athletes set to cash in from Paris 2024
Vivian Kong
Meet the athlete who will be taking home more than any other Olympic gold medallist in Paris. The Hong Kong fencer won the women’s epee final, earning her a cool $1.19m (HK6m) bonus reward from the Hong Kong Jockey Club. Kong and fellow fencing gold medal winner Edgar Cheung Ka-long also have an offer of a year’s worth of business class flights or 1 million air miles from Cathay Pacific. Kong has just announced her retirement and is joining the HKJC’s corporate affairs division to promote youth and sports development.
Jess Fox
Now the darling of Australia’s sporting public, Fox already had one of the most impressive sponsorship portfolios for a local Olympian. She still has a deal with her first sponsor, the Southlands shopping centre near Penrith, but also now has global backers like RedBull, Toyota and Adidas, as well as deals with accounting firm Grant Thornton and Sydney Water. Fox earns about $1m annually, a figure that will soar after her Paris success.
Leon Marchand
There is nothing like a hometown hero, and the French swimming sensation is now a household name in his country after a stunning haul of four gold medals. Marchand is only 22, and already endorses luxury brands such as Omega and LVMH’s Louis Vuitton - who are getting plenty of exposure in Paris. The swimmer adorns billboards and has a huge picture on the side of a Paris skyscraper that is visible from the Eiffel Tower.
Jack McVeigh
It was a heartbreaking loss for the Boomers to Serbia in the quarter-finals of the men’s basketball, but the former Tasmania JackJumpers star is headed to the NBA in the US. McVeigh has had a breakout tournament for the Boomers, after a big year in the NBL, and will join the Houston Rockets on a two-way deal that will see him move between the big club and its minor league affiliate Rio Grande Valley Vipers. It puts McVeigh on the cusp of a big payday for a full NBA contract, but for now will receive a $US578,577 ($893,000) annual deal.
Noah Lyles
The American sprint star, who won the 100m final by a whisker, endorses companies like Adidas, Red Bull and Omega. But Lyles has made no secret of wanting to make some big deals post Paris, declaring “there’s money in sneakers” and his goal of wanting his own shoe. He’s also been hailed the world’s fastest anime fan, which should make him popular with Japanese sponsors.
Yeldos Smetov
The gold medallist in the men’s judo 60kg category; his and Kazakhstan’s first ever Olympic judo gold. It has led to several gifts, including the keys to a five-room penthouse in the Kazakh city of Taraz and a Lexus 600 car. Smetov also received a $US250,000 ($386,000) government bonus, lifetime monthly payments of about $1000, and has been promised a herd of 100 thoroughbreds.
Novak Djokovic
The 37-year-old Serbian superstar looks to have capped an amazing career with his gold medal win in the men’s tennis. Djokovic has amassed more than $285m prizemoney, winning grand slam after grand slam. While it is only a relative pittance compared to his usual winner’s cheque, Djokovic received a $US218,000 ($336,000) bonus payment from the Serbian government as one of his country’s gold medallists. He also gets a national pension when he hits 40.
David Popovici
The young Romanian is only 19 and has a big future ahead of him after winning the 200m freestyle final. He already has sponsors like Raiffeisen Bank, Arena and Omega, for whom he has appeared in advertising as an ambassador alongside French star Leon Marchand.
Simone Biles
The gymnastics superstar made about $10m in endorsements last year, according to Forbes, and her earning power will only increase after three more gold medals. She is one of America’s true Olympic stars, attracting a string of celebrities to Bercy Arena to watch her in action. Her sponsors include United Airlines, Visa and Athleta, who have released a line of Biles activewear.
Ilona Maher
The US rugby star has become one of the biggest success stories of Paris, especially with younger generations of fans. She now has more than 3m combined followers on Instagram and TikTok, bringing a lighthearted take to life in the Olympic Village and other behind the scenes content. It has all helped Maher clinch endorsement deals with brands such as New Era, L’Oreal, and Secret. She has also launched a skincare line called Medalist.
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