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Olympic athletes are paid $37,500 per gold medal, $22,500 per silver medal and $15,000 per bronze medal, according to a 2018 report from CNBC. Lee, who turns 21 in 2024, could still be in her prime as a gymnast for the next Olympics. I dont think it was too challenging, especially when you look around the league and see most teams are still rewarding their top players, CAA Sports Patrick Collins told SBJ. Liz Mullen can be reached atlmullen@sportsbusinessjournal.com. You may opt-out by. Rule 40 is still a work in progress, according to Brant Feldman of American Group Management, which represents Olympic and Paralympic athletes for endorsement deals. After shedding a few tears of joy at the conclusion of the all-around final while her family watched in celebration back home, Lee sought out the silver medalist, Brazils Rebeca Andrade, and congratulated her. Are you a print subscriber? Her career has leapfrogged from there and is doing well in different competitions. The new NIL rules are a game changer for Suni Lee and Auburn gymnastics. Lee instantly became one of the stars of these Summer Games. However, the elite athletes net worth is a bit of a mystery. Dressel, who grew up in Green Cove Springs, Florida, and swam at the University of Florida, found his way to the podium five years ago in Rio. Those days are over thanks to recently passed legislation that allows collegiate athletes to make money off their name, image and likeness. Her name will get bigger, and with it will come an untold number of opportunities to cash in on her Olympic glory. From Sunisa Lee to taekwondo, an Olympic gold can mean a lifetime of opportunity for athletes. Furthermore, she won two more medals in Tokyo to the delight of most fans. Recent changes to name, image and likeness rules now allow Division I NCAA athletes to monetize their marketability. Understandably as an Olympic hero, advertisers have been gravitating toward her. Khristopher J. Brooks is a reporter for CBS MoneyWatch covering business, consumer and financial stories that range from economic inequality and housing issues to bankruptcies and the business of sports. I just didnt want to see myself fall back, she told Elle at the time. The superstar gymnast now earns several million dollars a year off the mat from sponsors, including Athleta (after several years as a Nike athlete), Visa, United Airlines, Oreo and Core Power protein shakes. Tim Walz and St. Paul Mayor Melvin Carter declared Friday "Sunisa Lee Day," a symbol of just how quickly things can turn when you stand atop the podium at the Olympics with the national anthem playing and NBC's ever-present cameras zooming in. The latter is probably out of the question for Lee, since Auburn is an Under Armour program, but according to Dorfman, a number of options should be on the table for her, from performance-based products like Gatorade, to exercise equipment, to fashion brands or haircare and grooming products, like Dove or Revlon. Action Network based its figures off of an estimate of $0.004 per Instagram post, per follower, which the platform says is the average price the typical social media influencer earns for brand deals with consumer goods and service companies. But now they can work directly with the athlete they want without making a massive investment in the entire collegiate program. Apart from that, she is a huge pop music fan and loves Harry Potter. * Please fill out the form below in order to receive your shareable link. For now, S&S is focused on national deals, but local partnerships from her home state of Minnesota and her new college in Alabama are possible, St. George said. Full Spectrum Services LLP 2022 | All Rights Reserved. By The U.S. Olympics Gymnastics Team Ranked by Height: Simone Biles, More, Streaking! But he swam only in relay events and was very much overshadowed by his all-star teammates Michael Phelps, Ryan Held and Nathan Adrian. Other more traditional Olympics sponsors, like Procter and Gamble or the Coca-Cola Company and their family of brands (Coke now owns Core Power through its acquisition of the protein shakes owner, Fairlife LLC), could also be in Lees future. After the success she found in gymnastics, she took part in the famous tv reality show Dancing With the Stars. These Celebs Love Posting Naked Photos, Brad Pitt and Angelina Jolie's Teen Daughter Shiloh's Transformation, Brit Awards 2023 Best, Worst Dressed Celebs: Red Carpet Photos, Her Swimsuits Don't Lie! You become the face of the sport, raking in sponsorship deals. See Shakira's Hottest Bikini Pictures, Shes a Genie in a Bikini! A native of Saint Paul, Minnesota, Lee rose to international prominence after a personal tragedy. The transition should be easy. All rights reserved. Click below to sign in. That face is changing because new NCAA rules now allow college athletes to monetize their names, images and likenesses, or NIL, as the fast-emerging asset is known. "It's just a different environment," Lee said. It hasnt really worked out as intended for the lower-profile athletes, says John Grady, a sports law professor at the University of South Carolina. . Her father Yeev Thoj is a healthcare worker while her mother immigrated to the United States of America. Its all good. "And I know that college is going to be way better.". ICE Limitations. Its not just the medal that makes her marketable, though, but the pedestal on which fans have long put top U.S. gymnastsfrom Mary Lou Retton to Nastia Liukin to Gabby Douglas to Biles. Burton also noted that as an Asian American athlete, Lee also embodies diversitya valuable attribute to marketers today. This Olympic and Paralympic cycle also provided both athletes and brands with new marketing opportunities. Known for her skills at a very young age, Lee started competing in 2016 at the U.S. Classic. It will remain in effect until federal legislation is passed or the NCAA creates permanent rules. She introduced herself to the world as one of the faces of USA gymnastics, right up there with all-time great Simone Biles, and in that moment as she glanced down at that hard-earned gold draped around her neck she also became the new face of the NIL era of college athletics. With her masterful gold medal performance amid a whirlwind of attention and emotion caused by Simone Biles withdrawal, Lee now moves into the role of Americas newest face of the Games. Longer term, her gold is even more valuable. The fact that she sort of stepped up and won gold amidst all this controversy and issues about mental health and the pressure involved she was just under a microscope, and she came through.. But her impending haul off the mat is actually worth much more. Whatever endorsements ultimately come through for Lee, at least this much seems clear in the wake of Thursdays gold medal in the all-around her earnings potential could dwarf even some of the biggest names in college sports. Tags: Recent News Editorial Box. Sunisa Lee. Measure of Success: Churchill Downs Race Tracks Sponsorship Strategy Sponsored by IEG, Ourand: Pac-12 has time on media rights, as long as no other schools leave, Fallout from RSN mess means big changes for fans, teams and leagues, The Marchand and Ourand Sports Media Podcast: Episode 76 -- RSN Armageddon. She is the first American of Hmong descent to medal at the Olympics. You may unsubscribe at any time. 2023 Advance Local Media LLC. Thats something that Auburn is prepared for. 2021 CBS Interactive Inc. All Rights Reserved. As a result of her partnership with Pearson+, she has reportedly been able to. If NIL rules hadnt changed, she would not be able to do any of the things we are talking about. Sports agent Blake Baratz on what Suni Lee's win means for her brand. Soon after, she won the silver medal for the team gymnastics competition while she only claimed bronze for her signature uneven bars competition. F1 and IndyCar start their seasons, the Rams partner with KAGR and Athletes Unlimited celebrates its anniversary with an expanded Nike partnership. Yes, she'll arrive at Auburn as not just another freshman. She won three Olympic medals during her first-ever games at the 2020 Tokyo Olympics, clinching one gold, silver, and . The agency also completed its first draft, which included former No. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Leaders Group. She confirmed this week she still intends to compete as a freshman beginning next month for Auburn University. Sunisa is the only player from Auburn, whereas Bronny James tops the list with a valuation of $7.3 million. None of them competed collegiately, opting to turn professional in an effort to cash in on their newfound celebrity. But everybody at the top of WME and, I dont think it was too challenging, especially when you look around the league and see most teams are still rewarding their top players, CAA Sports, At CAA Sports, clients are represented by multiple agents. Recent changes to name, image and likeness rules now allow Division I NCAA athletes to monetize their marketability. Whatever comes along, however, she expects to compete for the Tigers next season. She would have had to go pro.. She will also rake in appearance and speaking fees for years to come, as she emerges as the Olympic movements next It Girl, a title he says American gymnasts have taken on after successful Summer Games since Retton won gold at the 1984 Olympics in Los Angeles. The superstar gymnast now earns several million dollars a year off the mat from sponsors, including Athleta (after several years as a Nike athlete), Visa, United Airlines, Oreo and Core Power protein shakes. He didnt waste the opportunity to showcase his talent this time around, setting either a world record or an Olympic record in all three of his individual events. . What Simone Biles Olympics exit means for sponsors, Athleta plots expansion with Simone Biles deal and new chief brand officer, Agency IP investments are growingclient frustrations are among the reasons why, Why a stronger freelancer-agency relationship is critical for success, - Read additional free articles each month, - Comment on articles and featured creative work, - Get our curated newsletters delivered to your inbox. Get browser notifications for breaking news, live events, and exclusive reporting. Burton also noted that as an Asian American athlete, Lee also embodies diversitya valuable attribute to marketers today. The 2020 Tokyo Olympics saw a new superstar being born in Suni Lee. Gabby Douglas (2012) and Simone Biles (2016), future Auburn gymnast Sunisa Lee is prepared to make history when she . Sunisa Lee competes on the vault during the women's U.S. Olympic Gymnastics Trials Sunday in St. Louis. The list also includes Shareef's younger brother Shaqir, who plays basketball for Texas Southern University; as well as Spencer Rattler, quarterback for the University of Oklahoma; wrestler Gable Steveson of the University of Minnesota; and Scotty Pippen Jr., son of the former Chicago Bulls player, currently a Vanderbilt University combo guard. The St. Paul, Minn., native has committed to attend Auburn University. July 29, 2021 | 2:05pm CDT Following Sunisa Lee's gold medal victory in the individual all-around at the Tokyo Olympics, Auburn head coach Jeff Graba is excited for the future. "Smash the cap", Millions of Americans nearing retirement age with no savings, Vast majority of U.S. homes are unaffordable to the average buyer, Difficult economy and loneliness forces some retirees to move in with family. Collins co-represents Allen with. Sunisa Lee's father, John Lee, celebrates his daughter's Olympic gold as she is presented the medal on television at a watch party in Oakdale, Minn., Thursday. Everyone had been expecting Simone to win, and [Lee] stepped up. Its a dream scenario.. She attended Auburn University on a gymnastics scholarship and has been a regular there. Gold medallist Sunisa Lee of the United States poses on the podium after winning the Women's Individual All-Around, July 29, 2021, in Tokyo. In advance of the Tokyo Games, the IOC introduced a relaxed version of Rule 40, a provision that protects the Games exclusivity and intellectual property for official Olympic sponsors by limiting other non-sponsor brands from getting involved. (Its) probably bigger; bigger than that quarterback (Alabamas Bryce Young) who hasnt started a game and Im sure Nick Saban was kind of goosing that number just to get recruits, Dorfman said. Athlete. According to reports, the DWTS contestants earn $125,000 in rehearsal and the first two weeks while the maximum they can earn is $295,000. Then, she joined the Dancing With The Stars competition and earned a lot of wealth. Were just preparing for anything, Graba said. If she does still opt to go to Auburn, INFLCR CEO Jim Cavale said the star will arrive with a massive head start in terms of social media endorsement deal opportunities in the NIL era. But its a sport and an athlete that performed under incredible pressure, especially given everything thats happened leading up to this. Many brands, including Olympic sponsors have reached out, St. George said. Olympic Gold Medalist @auburngymnastics teamsuni@smithsaint.com. Jade Carey will attend Oregon State, Jordan Chiles will start at UCLA, and Grace McCallum will go to Utah. Not only did she fill up SEC gyms, she also signed endorsement deals with Amazon, Gatorade, Target, Invisalign and CLIF Bar. St. James is the Saint in Smith & Saint. (AP Photo/Gregory Bull) Market data provided by ICE Data Services. Also, Lee and her teammates competing in college could join Biles in an ad for Athleta and profit from it as long as it doesn't violate the confines of the trademark of their respective colleges. Right before she won gold on uneven bars at the 2019 U.S. championships, her father fell off a ladder and became paralyzed from the chest down. Dressel likely has another Olympics run left as well: He will be 27 at his next Olympic Games. Sunisa Lee, who hails from Minnesota, is the daughter of Laotian refugees who fled the country in the wake of the Vietnam War and she became the first Hmong-American to represent the United . He is only the fifth swimmer to win five golds at a single Olympics, joining a star-studded group that includes Michael Phelps and Mark Spitz. Winning an Olympic gold medal in the women's all-around competition is the most coveted title in gymnastics. https://www.sportsbusinessjournal.com/Journal/Issues/2021/08/16/Insiders/Labor-and-Agents.aspx. Nude Selfies! She helped lead Team USA to a silver medal in the team final earlier this week, stepping up after Biles withdrew following the first rotation due to a medical issue. 2023 Leaders Group. Maybe by then, things will have settled down a little. If you look at the setup of the storythe greatest of all time bows out and she steps in, wins the gold, gives hopes and dreams to every little girl in Americashe represents hope and aspiration, and thats massively valuable. 2 men found drugged after leaving NYC gay bars were killed, medical examiner says, College athletes profiting off of NCAA policy, College athletes take advantage of new NCAA policy, One way to fix Social Security? An Olympic gymnast and two of the sons of an NBA legend could make more money on Instagram than any other college athlete under the NCAA's interim name, image and likeness guidelines, a new report shows. It was one of the most emotional, physically trying times of her life and she wanted to come back to the States with some semblance of a plan.. "It's a win-win.". Brands that want to work with Lee in the immediate aftermath of Tokyo will pay a premium due to her demand, which means cash in her pocket and continued visibility that Burton said creates a sustainable revenue stream for Lees future. Even without additional gold medals in Tokyo, though, Dorfman believes Lees endorsement potential could rival what Biles made in the wake of the 2016 Olympics based solely off her performance in the all-around and the nature of the sport, with the athletes not hidden behind masks or headgear, making them more recognizable to consumers. But the catch is that you have to turn proor at least that used to be the case. People will remember that and empathize with him, Delpy Neirotti says. Awards, accolades, endorsement deals and sustained celebrity followed. 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University of Miami football players D'Eriq King and Bubba Bolden have each signed $20,000 endorsement deals with College Hunks Hauling Junk, ESPN reported. - 1 day 2 hours ago. She started competing when turned six at the Midwest Gymnastics Center in Little Canada, Minnesota. Lee and Carey's teammates, including Simone Biles, who withdrew from the individual competition to focus on her mental health, were seen Thursday in the stands in Tokyo cheering on Lee and Carey. Shes forever an Olympian and forever a gold medalist in the tradition of all the great female athletes of past Olympics, Burton said. Suni Lee's net worth & endorsements From all her earnings, medal victories, and salary, Suni Lee has an estimated net worth of $3 million. Sunisa Lee won the balance beam at the N.C.A.A. After Simone Biles won most of the events, she claimed first place in the uneven bars event. Under the new version of Rule 40, she can. LSU Gymnast Olivia Dunne vs Olympic Champion Suni Lee: Who is Wealthier? "So I feel like if I were to go pro, it would have to be like something like really good.. Last week, Lee was moving into her college digs at Auburn. Sunisa Suni Lee, often known as Suni Lee, is an artistic gymnast from the US. On3 NIL, which tracks college athletes' NIL deals, estimates Lee's market value of $1.5 million. She entered the Olympics as the Auburn athlete with the most reach across social media platforms with 198,000-plus Instagram followers and 19,500-plus Twitter followers as of July 1, when NIL changes went into effect and those numbers have skyrocketed since the start of the Summer Games. She took home one gold and three silver medals at the junior-level competition. Its a dream scenario., Team USA Prepares for What Could Be Baseball's Last Shot at Summer Olympics, NBC Scrambles to Compensate Advertisers as Olympics Ratings Tank, In Court, Olympic Ticket Seller Calls Refund Lawsuit a 'Shakedown'. Lee also won bronze for the uneven bars and was part of the U.S. team that won silver. Lee signing with a large school like Auburn also gives her another four years of earning potential ahead of her with boundless opportunities to pitch products, make appearances, sign autographs or participate in one of the latest trends by commissioning NFTs of her gold-medal performance. [Lee is] now the new Americas sweetheart, Thompson added. But it has worked out tremendously for people like Simone Biles and Michael Phelps and Katie Ledecky.. A star like this is also relatable to others, and when he breaks down and shows emotion like that, hes relatable.. Suni Lee will start her freshman year under new NCAA policies that allow college athletes to profit from endorsement deals. As everyone predicted, Sunisa Lee has become a big name in the endorsement deals in college sports. Life & Style is part of the a360media Entertainment Group.Copyright a360media 2023. The fact that Simone Biles pulled out kind of put more laser-focused attention on it. S&S represents Russian-born American gymnast Nastia Liukin, who was the 2008 Olympics all-around champion, and Liukin made the introduction to Lee. Montreal Vacation Packages. Or Gabby Douglas, who in 2012 got a custom Barbie and deals with Honda, Subway, and Smoothie King. Of course, Lee could still turn pro, but going to college might be in her best interests long-term, suggests Damian Benders, general manager of B Code, a digital media company connecting with Black audiences across digital platforms. Theres almost always someone who emerges as the fresh new face of the Olympic Games, and it is almost always a female, Burton said. Its good for our program because, you know, it brings a lot of national recognition to us. 2023 Leaders Group. Lindsay Rittenhouse During today's conversation IEG's Vice President of Strategy and Churchill Downs Vice President of Marketing, Brand and Partnerships Casey Ramage give us some insight on their analytical approach to sponsorship strategy. Sunisa Lee poses with her gold medal after winning the women's gymnastics all-around title at the Summer Olympics at Ariake Gymnastics Centre on Thursday in Tokyo. Lee, an Auburn signee, will have a chance to cash in endorsements deals and maintain her . Shes out of central casting. Fill out a booking request form for Sunisa Lee, or call our office at 1.800.698.2536 to . Both could see their annual endorsement earnings climb above $1 million in the next year, according to Forbes estimates, and it likely wont stop there. With each Olympic federation interpreting the provision in its own way, there are regulatory questions that need to be sorted out. Shes out of central casting. After Biles won the all-around gold medal in the 2016 Olympics one of four golds she took home that summer she reportedly earned more than $4 million in endorsement deals. Dressel, 24, added five gold medals to his trophy case (to go with the two he won at Rio 2016) and not only won swimmings premier Olympic event, the 100-meter freestyle, but powered a Team USA come-from-behind victory in the 4x100 medley relay. Winning medals were on her agenda as she won the gold medal for the all-around event and excited the gymnastics fraternity. WME BUILDS BASEBALL PRACTICE: WME Sports has quietly built a baseball player representation practice that includes veterans such as the Houston Astros Carlos Correa and potential rookie of the year Garrett Whitlock, who pitches for the Boston Red Sox. Plugging a product or service on social media is just one way college athletes have begun cashing in. Thompson echoed many of the same sentiments, adding that perhaps joining Biles on her sponsor-supported, post-Tokyo Gold Over America Tour could put Lee to an even stronger earning position. But above and beyond all that, its just a good story. Oh My! The gymnasts will continue to have a presence on TV and streaming services through collegiate conference networks, staying relevant with the viewers and brands, Thompson says. Until then, and as Paris 2024 quickly approaches, the table is set for Lee and Dressel. (AP Photo/Gregory Bull)AP. Verified. - She will also rake in appearance and speaking fees for years to come, as she emerges as the Olympic movements next It Girl, a title he says American gymnasts have taken on after successful Summer Games since Retton won gold at the 1984 Olympics in Los Angeles. That is really a testament to Josh and how hard hes worked to establish himself as an MVP-caliber player at such an early stage in his career and with two years left on his rookie contract.. Flight + Hotel (+Car/Transfers) Flight + Car. By registering you agree to our privacy policy, terms & conditions and to receive occasional emails from Ad Age. Its worth noting that had the Tokyo Games happened last summer as planned, that wouldnt have been the case. The agreement pays Allen, who was the No. As of Thursday afternoon, Lee has surpassed 706,000 followers on Instagram and nearly 73,000 on Twitter numbers that will surely continue to grow. Lee, 18, landed her first gold medal Thursday after. Newly minted Olympic gymnastics champion Sunisa Lee says she's still committed to going to college at Auburn. 2 with an estimated 1.5 million dollars made from NIL deals. Lets talk seven figures, said Bob Dorfman, the creative director at Baker Street Advertising and a sports marketing expert. She is the holy grail of consumers, the target for nearly every marketer in America. What they have is a short runway to Paris, and they have so much momentum right now that it could be carried through the next three years to add value to them, says Lisa Delpy Neirotti, director of the sports management program at George Washington University. Sunisa Lee of Team United States poses with her gold medal after winning the Women's All-Around Final on day six of the Tokyo 2020 Olympic Games at Ariake Gymnastics Centre on July 29, 2021 in. 1.7M followers. Speaking with NBC after winning gold in the 100-meter freestyle Wednesday, Dressel broke down in tears when the network videoconferenced his family into the broadcast. Access to easy-to-read digital editions of weekly issues. championships. product endorsements, or corporate entertainment. Longer term, her gold is even more valuable. Additionally, she has the capability to partner with brands for paid social media posts considering her whopping 500,000 followers. For Sunisa "Suni" Lee and Caeleb Dressel, two of the Tokyo Olympics' breakout stars, the road to Paris 2024 is paved with riches. In sports like gymnastics and swimming, racking up gold medals on the worlds biggest stage is lucrative. So it'll be really exciting for me when I can just, like, go out and do stuff.". Burton throws Visa in the ring as well, noting that with only a three-year turnaround to the Paris Games in 2024, where Lee could again compete, shes an even more attractive partner for Olympic sponsors. (Biles, who turned pro in 2015, has an endorsement deal with the Gap-owned brand.). The latest personnel hires and promotions, plus exclusive ratings and research from the sports industry. Graba, whose brother Jess is Lees longtime coach, said he has had conversations with Lee about the impact NIL can have on her college career. Activate your account. That shes only 18 also means shell be 21 when the next Summer Olympics come around in 2024, leaving the possibility for her to defend her gold in Paris. In fact, Dressel already has backing from at least seven companies, including Speedo, NOBULL and Hersheys. First published on October 13, 2021 / 2:46 PM. The division now represents more than a dozen players, including Detroit Tigers pitcher Spencer Turnbull and Pittsburgh Pirates pitcher Chasen Shreve. That means Suni will take home $60,000 from Tokyo. Hercy Miller, a Tennessee State University basketball player and son of rapper-turned-entrepreneur Master P,signeda four-year deal worth $2 million with tech company Web Apps America, his father said. Reels. But its the unparalleled mental strength that she has shown during the most difficult time of her life that make her the person she is.. The so-called NIL rules that took effect July 1 allow college athletes to strike deals with brands that use their name, image and likeness. All Rights Reserved. Pressure of Being the Olympic Gold Medalist, How Is She Real: Olympic Champ Suni Lees Unbelievably Flawless Performance in No outlets have reported a figure for Suni, but judging by her past and present medal wins, it is clear that she has a sizable income through her sport. - 1 day 8 hours ago, By Moreover, her flexibility and smoothness in routines are a must-watch for fans all over the world. Sunisa Lee's gold medal in the women's gymnastics all-around might be worth seven figures. allow college athletes to strike deals with brands that use their name, image and likeness. The run-up to the Olympics is a grind at the elite level. All rights reserved. Hotel + Car/Transfers. They both came at a perfect time, Delpy Neirotti says, adding, Its going to be advantageous for both of these stars in terms of commercial value., This is a BETA experience. Team USA gymnast Sunisa Lee took home the gold medal in the womens all-around on Thursday, a victory that some marketers say could come with a seven-figure financial windfall for the 18-year-old star, who just shot her marketability into the stratosphere. Shes forever an Olympian and forever a gold medalist in the tradition of all the great female athletes of past Olympics, Burton said. During that competition, she claimed the gold medal for uneven bars, the silver-medal in the all-around competition, and won the bronze medal for the floor competitions. LOWER NFL REVENUE NOT A FACTOR IN ALLEN DEAL: Buffalo Bills quarterback Josh Allens six-year, $258 million deal demonstrates both the players and the teams commitment to winning a Super Bowl and wasnt that difficult to complete, despite the pandemic compressing NFL revenue last year, his agent said last week. Rick Burton, Syracuse University professor and former chief marketing officer of the USOPC, also puts Lees immediate earnings in the million dollar range.