Is Bolt being properly handled?

[Mosiah]

Someting wrong wid dat?

[Jangle]

What? Check this out. Look at that picture and watch the video of my first post and tell me if you noticed anything.

[Willi]

If him pull tomorrow, what then does he do?

Steeeupps.

750k is CHICKENFEED to what he SHOULD be making.

Puma incentives...dont mek mi laff...dem a gi him M3 like seh him a breh-breh.

Digicel??? Hahahahahahahahahaha. Clueless reference there. Digicel is a PIPSQUEAK firm.

Sickko, it come in like you are ignorant to this game. Leave it to people who understand how it works in the BIG Leagues.

[Islandman]

Worlds highest paid sportsmen.

Eight of the top 20 are not Americans. I expect that trend to continue.

Manny Pacquiao the boxer mek 40 million last year to rhatid. Serious money.

http://sports.yahoo.com/top/news?slu...yhoo&type=lgns

[Mosiah]

Willi, quite seriously now, I totally reject the idea, if that is what you are saying, that Bolt needs to get with the Amex's, the Gatorades and the McDonald's of this world in order to maximise his potential. Okay, so Digicel is not as big as a Verizon or a Vodafone, but it probably has a better chance of surviving in today's world than both of them put together! Whoever thought that Fiat would be buying Chrysler?! Or that huge Wall Street companies would be history overnight?!

If Bolt wants to support "Jamaican" companies or companies who have been there with him from the get-go, then let him. It's not inconceivable for Bolt to already have more money than not even he could blow. And yes, I know you are thinking of the kind of money where his greatgrands can splurge and enuff for him to set up a Usain Bolt Foundation that could support the needy all over the globe. Well, everything is relative and there can only be one Bill Gates, but that should not mean that Bolt has to be greedy and forget his own and sign on every dotted line that is put in front of him as long as it has a Madison Avenue letterhead.

And whatever happened to careful and thoughtful planning!? If he had rushed into the kinds of deals y'all are thinking, unnu would cuss him for that too! Beijing is not even a year old! Yes, he could be injured tomorrow, but so too can all the big athletes!

I will step aside now and watch my head!

[Hortical]

This may be a worthy venture, but why is Bolt putting his name on a cause that is raising £7,000 for a bunch of kids?

Mi guarantee yuh would not see Beckham or Woods donating themselves cheaply for tiny cause like this.

I am guessing that when he showed up at ManU, he was asked to take a picture with the card and he agreed.

[Islandman]

No you make some reasonable arguments. The main one I would disagree with is the suggestion that wanting to maximise his potential earnings is equivalent to some form of greed. It really isn't and we need to get away from that kind of thinking.

As you say he has only been a real star for about a year, he is probably still figuring things out. I remember when Lebron fired his big time agent and gave his longtime friends the chance to manage his financial affairs, the media gave him hell and said it would be a disaster. As far as I can tell it has been working out pretty well for him.

In the end as long as he is being properly advised and making his decisions based on all the relevant information, I will be fine with whatever he wants to do. From a national perspective though, I hope he wants to maximize his earnings because with the kind of money and influence he can have, he could literally change communities and industries in Jamaica, in a way that Bob did for rasta and reggae music. Its very rare that a country of our size (population and economy) produces someone who can have that kind of impact.

[Mosiah]

No you make some reasonable arguments. The main one I would disagree with is the suggestion that wanting to maximise his potential earnings is equivalent to some form of greed. It really isn't and we need to get away from that kind of thinking.

Pity you misunderstood me, because I make no apologies for the pursuit of wealth! What I was thinking was, if he jumped at every big offer out there without considering everything, then yes, it would be some sort of greed. Perhaps more ignorance than greed, still!

I could not have meant that his wanting to maximise his earnings was greed, because we all want him to do so. Just that the avenue he may take might not satisfy HL, but who cares!

And I would certainly not want Usain to have Michael Jordan-type advisers around him!

[Historian]

Interesting Point

This may be a worthy venture, but why is Bolt putting his name on a cause that is raising £7,000 for a bunch of kids?

Mi guarantee yuh would not see Beckham or Woods donating themselves cheaply for tiny cause like this.

Actually, I was wondering the same thing!

[Mosiah]

I bet the kids don't think it's a tiny cause.

And how does this preclude him from doing more?!

[Islandman]

Ok, understood now.

He certainly doesn't need Jordans attitude, which apparently involves worshipping at the alter of the swoosh, to make mega-money in todays world. But he does need to maintain a large base of hardcore fans acorss the world, not just the casual ones that tune in every 4 years.

[Jangle]

Mo, now you are talking like the typical small islander who has never flown on a plane before. There is nothing wrong with Bolt putting his name to some Jamaican products, but not at the expense of bigger international companies. What you don't realise is that Bolt is fast becoming an international icon in the same league as Bob Marley. After Bob died, he no longer belonged to Jamaica, but instead to the world. He became an icon who was merely born in Jamaica. Bolt has that potential, and if he performs as well at the upcoming WC as he did last year, then his fame would match Tiger Woods as a household name.

His management team needs to sit down and map out a financial path for him. This path should be about building long-term wealth. When I say management team, I don't mean the person/s who book his appearances or his coach. I am talking about a team that knows how to build a brand. Does Puma have a Usain "Lightening" Bolt sneakers? If not, why? If they do, is Bolt getting a percentage of the sales?

"The German manufacturer's sneaker sales were reported by the Financial Times to have increased by more than two million pairs just one hour after the world's fastest man held up his Theseus II spikes before the flashing [COLOR=orange! important][COLOR=orange! important]cameras[/COLOR][/COLOR] after his perfect run. Even Puma's lone store in Jamaica, at Tropical Plaza in St Andrew, has seen increased interest since Bolt's 100-metre championship run on Saturday." This was from a Gleaner report last year. This is why I said that his Puma contract should have been re-negotiated after Beijing. I see where Dexter Lee signed a contract with Reebok recently. But let's get real now, how much money is that contract really worth. It is nothing for a company like Reebok to pay for his schooling, boarding and meals for 4 - 5 years and give his coach and his parents a "smalls". How much would that cost them - US$150K -US$200K? If he were to go on to become a world champion, then his earning power would increase. Reebok would be making money off his image selling shoes and apparel making many times the amount on his original contract. To a young student like Dexter Lee and his parents and coach US$5k -US$10k per month is a lot of money....especially when converted to Jamaican dollars. Sh it, if someone was giving me that per month I would be happy. Now, the Puma contract that Bolt signed from back in the days could have been of similar ilk, but obviously with more perks and value given his early record runs. But after Beijing, anything less than a sneakers and clothing endorsement with any shoe company is not enough.

Mo, you talk about local companies, well let's take Digicel. To use Bolt's image, they could name a something/a product after him and have him share in the profit from the sales. Digicel is the largest telecommunication provider in the Caribbean. He is already well known there. He is a vehicle to be used to enter a specific market. Brixton, NY Triborough, Miami, Atlanta, these are all places where there is a high concentration of Jamaicans and West Indians. These should be the targetted areas for a Bolt infiltration. Companies operating in these communities should be targetted.

The bottomline is that right now, he is not earning as much as he should/could. As I said in another post, I may be premature in my criticism, so I will continue to wait and watch the situation. I don't want to see our icon go broke or having to find a 9 - 5 job after he is done with the sport. Bolt needs to be groomed into becoming a media darling like Tiger Woods, Michael Jordon and David Beckham.

My comments can also be applied to Veronica Campbell-Brown. Even though she is nowhere as popular as Bolt, she has enough achievements to make her marketable. These athletes need professionals who know how to make you marketable.

[Jangle]

He is being aligned to a major brand - Manchester United. The club has a HUGE following in China and Asia to a larger extent. I subscribe to Manchester United's newsletter and I am in the US. Imagine Manchester United's millions of Chinese and Asian fans opening their newsletters and seeing Bolt's face. He becomes familiar to them. Bolt's management approach Mr. Chinese businessman and makes his pitch that Bolt is so popular with millions of Chinese Manchester United fans............the rest is history.......

[MdmeX]

I bet the kids don't think it's a tiny cause.

And how does this preclude him from doing more?!

Agree with you Mo.

[Willi]

Amex???

Try Lenovo, Daewoo, Hyundai, The new owners of Rover, the chinese firm that is the largest manufacturer of solar panels in the world, Sony, etc. Asian Giants. You too US focussed.

Fiat owns Ferrari, so why not Chrysler, that was owned recently by Daimler-Benz?

I didnt not say to ignore Jakan firms (though Digicel is Irish, no), just that he needs to think bigger than just that. The funds he makes now can also be used to help Jamaica in a tangible way, so there is a bigger responsibility here. Besides if he made as much as you believe...impossible, since the stated stretch goal is US$10m a year, then he would not be holding out for $250 a meet, but rather run for the "normal" $100k and face Asafa and gay more often. Right now, Bolt fee prevents the meets from contracting Gay and Powell, due to budget limitations.

Finally, its not about greed and signing every dotted line...that is why I said a PROPER BRAND STRATEGY, WHERE HE BUILDS BRAND EQUITY and not "prostitute" his image.

Get wid di program man. There is nothing to fear but fear itself.