Raducanu can become one of world's most marketable athletes
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[September 14, 2021] By
Martyn Herman
LONDON (Reuters) - Emma Raducanu's astonishing U.S. Open triumph
could lead to a pot of gold worth around 20 million pounds ($27.7
million) over the next two years and that may be just the start,
according to sports marketing experts.
The 18-year-old Briton was almost unheard before reaching the fourth
round at this year's Wimbledon, having earned around $40,000 since
her senior debut three years ago.
After becoming Britain's first female Grand Slam champion for 44
years and the new golden girl of women's tennis, Raducanu's earning
potential is set to enter the stratosphere.
The $2.5 million she picked up in prize money for beating fellow
teenager Leylah Fernandez in a final that captivated the sporting
world may soon seem like loose change.
Raducanu's mixed Romanian-Chinese heritage, a stunning game, and
engaging personality make her "brand gold" according to one sports
marketing expert.
She is already a cover girl for British Vogue's October edition and
major global brands in everything from fashion to cars and jewellery
will be queuing at the doors of IMG, her management company.
"There is no limit in what she can achieve on the
court," Tim Lopez, Director at sports marketing firm CSM, told Reuters
on Monday.
"She's hugely in demand already but to follow that up with continued
success in the majors in tennis will see her rapidly become one of the
most marketable athletes on the planet."
With its global reach and equal exposure, tennis offers a road to riches
for top female players with Japan's Naomi Osaka earning $55 million, not
including prize money, in the past year, according to Forbes magazine.
Of the world's 10 highest-paid sportswomen, nine are tennis players.
Lopez says Raducanu, whose mother Renee is Chinese, shares the same
marketing appeal as four-times Grand Slam champion Osaka whose mother is
Japanese and father is Haitian.
"If you use that as a yardstick not just because of their career
trajectory but also their shared appeal and that they are both engaging
and from mixed heritage backgrounds," he said.
"That's a huge benefit from a brand perspective, from an eyeballs point
of view there is no bigger market to tap into."
CLOTHING BRANDS
Raducanu's rise from obscurity to having her face plastered on Times
Square billboards will have the sports clothing brands vying for her
signature. After Osaka won back-to-back Grand Slam titles in 2018 and
2019, Nike reportedly paid $10m to take her from rivals Adidas.
Raducanu's appeal goes beyond the court, according to Conrad Wiacek,
head of sport analysis at GlobalData.
"Her victory takes her way beyond tennis and sport in terms of
marketability," he told Reuters.
[to top of second column] |
Emma Raducanu of Great Britain celebrates with the championship
trophy after her match against Leylah Fernandez of Canada (not
pictured) in the women's singles final on day thirteen of the 2021
U.S. Open tennis tournament at USTA Billie Jean King National Tennis
Center. Mandatory Credit: Danielle Parhizkaran-USA TODAY Sports/File
photo
"One of the most impressive things for
me was her message in Mandarin for the Chinese audience because the
major issue western sports stars have in breaking China is the
language barrier.
"The sky is the limit as any western brand positioning itself in
China would be looking at her as an ambassador."
Wiacek expects Raducanu's Nike sponsorship deal to be raised
significantly and other endorsements will earn her about $10 million
over the next two years.
"With her Chinese and eastern Europe heritage as well as Britain,
that puts her in a different stratosphere to other athletes," he
said. "I've seen it being thrown around that she's a potential
billion dollar athlete. That's a long way away.
"That's based on consistency but just on the next 12 months I would
say $5 million would be a realistic number. Ultimately the barometer
for how commercially successful she will be will depend on how
successful she is on the tennis court."
Raducanu is represented by super-agent Max Eisenbud who helped turn
Russian Maria Sharapova into the highest-earning female athlete
after she won Wimbledon aged 18, with off-court career earnings of
around $320.
However, the pitfalls in professional tennis are numerous with
Osaka, another IMG athlete, struggling to cope with the sudden fame
and fortune.
Lopez says striking the right balance between on-court and off-court
activities will be a key factor in Raducanu achieving her full
potential.
"People need to give the girl a chance to consolidate what she's
done and not to heap too much pressure on too soon," he said.
"Focus on the mental wellbeing, then the sporting wellbeing and the
financial rewards will certainly follow."
($1 = 0.7232 pounds)
(Reporting by Martyn Herman, editing by Ed Osmond)
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