How can Athletes Monetise their Brand? A Practical Approach to Brand Endorsement Agreements

This article intends to provide a brief overview of the essential terms of athlete brand endorsement agreements including those relating to payment and deliverables, usage rights, termination, disrepute and exclusivity.

Introduction

As social media is the principal advertising medium of today, brand endorsements are a lucrative branding strategy for both athletes and brands. Brand endorsements allow companies to engage talent such as celebrities, athletes and influencers to perform certain ambassadorial services to advertise and promote their brand and/or products. The endorsement of successful athletes is persuasive and can result in both parties prospering financially and reputationally.

While athletes may hope to enter endorsement agreements swiftly, it’s important to understand the key provisions of a brand endorsement agreement to ensure they are appropriately remunerated for their work and are able to adequately protect their image.