With the Olympics now behind him, U.S. swimmer Michael Phelps is poised for a second gold rush, this time in the form of multimillion-dollar endorsement deals.
Phelps, a lanky 23-year-old from Baltimore, already has top endorsements from such companies as Visa, Speedo, Omega, Hilton and AT&T. He earns between $3 million and $5 million a year from corporate sponsors, according to his agents at Octagon Worldwide Inc.
With his record-setting performance in Beijing, where he won eight gold medals, Phelps has entered a rarefied group of wealthy sports superstars.
But among sports agents and marketers, the big question is: For how long?
“He’s the all-American boy,” said Mark Lev, Fenway Sports Group’s executive vice president. “He’s an Olympic legend and he’s going to be a very attractive pitchman for many companies.”
Kelly Downing, vice president at TrinityOne, a Boston sports marketing company, said Phelps’ “possibilities are endless.”
“He’s the type of character that brands want to associate with because he’s a genuinely nice guy who has overcome adversity.”
Others warned that despite the international appeal, Phelps’ long-term endorsement opportunities may suffer because with swimming - unlike golf or football or soccer - he won’t be constantly performing before national audiences.
“When is the next swim meet that you know of?” said Louis Yaffe, the New England regional director at PSP Sports, a Boston sports publishing firm.
“He’s going to have a quick hit and it’s going to be quite sizable, in the tens of millions of dollars,” Yaffe said. “But four weeks from now, after he does the circuit with Leno and all the late-night people, he may fade away a little bit.” 
To avoid that, Yaffe says Phelps should take a page from Tour de France champion Lance Armstrong’s playbook and hire both an agent and a publicist.
“Lance Armstrong has been able to keep it going by dating celebrities,” Yaffe said. “Phelps should . . . start showing up at events and parties and getting his name in the paper.”
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WHAT THE...?!?! News like this are coming from all directinos right now. 8 Golds - done it. Now is about how much money he;s going make after that, his endorsements and his 'Hollywood celebrity status'. Urgh. Is there anyone who doesn't dream Hollywood, huh? Swimming is business afterall. Working for 4 years in the pool, not having any days off and after he got his 8 gold medals and became an international sensation, here comes the ka-ching! It's equivalent to a hardworking entrepreneur finally getting his company listed in the stock exchange.
But true, its hard to top 8 gold medals and he will be a wee bit pass his prime at 2012. He's got to have some sort of constant appearance somehow. Kids out there need some inspiration, you need to be there to play the key figure.
"Lance Armstrong has been able to keep it going by dating celebrities, Phelps should...start showing up at events and parties and getting his name in the paper" Sure, he'll make tons of money by doing that. Living off from endorsements. That's the whole point of working so hard anyway, the rewards at the bank. Everything has to have some connection with money. Evil world.
I can't believe reading the gossip magazine some point next year with headlines like "Swimming legend Phelps dumps girlfriend Lindsay for Keira" (or something like that, this is a very un-attractive headline, I know). Bad example for the kids. The people that mattered. But your gold will be achieved, putting swimming alongside basketball and tennis.
On second thought, it would be most useful for him if he dates and marries a celebrity - actress or model. Sports and Hollywood has that special connection. Ha. Eva, Victoria, Nicole (Pussycat dolls) etc.
But think about the KIDS!!!
Sigh. I think I'll lose respect for you, too. MP. Looking back at my coverage, from a 3 million USD in sponsorship swimmer to now - a 100 million USD sports celebrity. You're really climbing up social status charts like you did in breaking swimming world records. Its kinda sad to lose the old low profile you to a new hollywood-ish you.
Pity, pity.
