Most marketers who hire celebrity endorsers do so with some trepidation. They know the glare of celebrity can sometimes haunt them. After all, the marketing world is rife with stories of movie stars
and super athletes who sign multimillion-dollar endorsement deals and end up in some sordid tabloid tale sprung from the police blotter. That's one reason that such deals usually terminate after a set
period of time. But sports-equipment marketer Prince Sports feels more confident about their superstar. The company announced this week it has signed a "lifetime endorsement" deal with tennis ace
Maria Sharapova. The contract follows a five-year deal that Sharapova signed when she was 14. Under terms of the deal, Sharapova will continue to be a brand rep in a marketing effort that will include
advertising, signature product lines, junior tennis programs, global grassroots efforts and "grow-the-game initiatives." Terms were not revealed, but were reported to be $25 million over the next 10
years. The deal will make Sharapova the world's top paid female athlete in terms of endorsements, with the total estimated to be about $20 million to $25 million per year.
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