Sponsors Expected To Score Big As Michael Phelps Emerges From Retirement
BALTIMORE (WJZ)—The most decorated Olympian ever, Baltimore native Michael Phelps announced this week he's headed back to competition.
Jessica Kartalija reports that could mean more endorsements for the swimmer, who could be planning to go for gold again in Rio.
Last summer, he was adamant.
"I signed my retirement papers after London, and there are no plans to head back to swim in Rio," he said.
Now, that could change, as Phelps announces he's coming out of retirement and will compete in three races later this month.
"This re-activates him in a sense because now he's still an active athlete. He's no longer a retired athlete," said John Maroon, president of Maroon PR.
While Phelps has already earned tens of millions in endorsement deals, Maroon says his earning potential increases when he's back in the water.
"Michael is still a hot commodity, and he's going to be the hottest commodity, especially because he came back. There is going to be that much more attention from him globally," Maroon said.
Phelps' sponsors include Subway, Hilton, Speedo, Visa, Omega and Baltimore-based Under Armour.
"We're proud of Under Armour. We're proud of Cal Ripken. We are proud of Ray Lewis, and we're proud of Michael Phelps and all that being celebrated in our community is special to us and smart of us," Maroon said.
His presence at the pool is also a boost for USA Swimming, which like Phelps, wants to grow the sport. USA Swimming leverages his talent as incentive for future Olympians.
"The biggest chip they have is 'the most decorated Olympian of all time.' That's not going away any time soon. I think it should always be his brand," Maroon said.
If Phelps goes to Rio in 2016, it will be his fifth Olympic Games.
Phelps endorsement deals in his retirement were on par with Michael Jordan and Arnold Palmer, two of the highest paid retired athletes.
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