 A partnership between an athlete or entertainer and a company in which the athlete or entertainer receives compensation in return for their support and approval of a company product or service  The celebrity agrees to allow the company to use his or her likeness to promote company goods and services

 What characteristics among celebrities do sports and entertainment marketers look for? › Success and high levels of performance › Media following › Work ethic › Personality traits

 Tiger Woods $65 Million  Roger Federer $65 Million  Phil Mickelson $44 Million  LeBron James $43 Million  Kobe Bryant $34 Million

 In the wake of Tiger Woods’ scandal in 2010, he reportedly lost over $22 million in endorsement deals  In 2011, he lost another major endorsement deal when TAG Heuer decided to part ways.

 Studies have shown that celebrity endorsements can be extremely effective in helping a company drive sales of its products or services

 In 2000, Nike Golf signed Tiger Woods to play its golf ball.  By 2005, Nike Golf enjoyed revenue growth of an astounding 24 percent per year.

 Given the incredible sales success of his branded grills, George Foreman now sorts through as many as 20 endorsement offers per week

 Read David Beckham Case Study  Complete Internet Activity