Marketers now able to access a once-exclusive marketing strategy and combine it with the speed, accountability and targeting capabilities of online advertising. Moving online -- and "going local" -- has the potential to level the endorsement playing field without sacrificing the power of brand associations.

Buyers of sports and other sponsorships must -- and can -- assess their partnerships based on actual outcomes rather than intermediate outputs. Instead of measuring the amount of time a sponsor's logo is visible, ROS measures how, if at all, the visibility impacts fan behavior.

Looking through the current fog, there will be new opportunities for marketers, and sports is poised to have a major role if marketers can adapt the way they think about television.

It is the best of times and the worst of times when it comes to using athletes in sports marketing. The economy has forced many companies to scale down their sports sponsorships, including previously big spenders in the automotive and financial categories. But this, in turn, has opened up opportunities.

Social media are all about buzz. For brands who need that, athletes have the followers to make it happen. And happen now.