Winter Olympic Sponsors Require Winning and Compelling Storyline
The Pyeongchang Games start on February 9th, but winter Olympians are finding corporate sponsorship opportunities difficult to come by; particularly for those that compete in smaller sports, that don’t have a U.S. following. Athletes that win and have a compelling story are the ones landing corporate sponsorship deals. Slopestyle skier Gus Kenworthy, who won silver in Sochi and is publicly gay, has signed deals with Toyota (TM), United (UAL), Visa (V), Procter & Gamble (PG) and Deloitte. His sexuality is worth noting because human rights groups say that sexual minorities’ rights are not always protected in South Korea; a country where having homosexual relations is punishable by up to 2 years in prison.
Howie Long-Short: Becoming an Olympian is an expensive endeavor. Richard Parsons estimates that it has cost more than $500,000 to get his children (Rachel and Michael, an ice dance team) to cusp of the ‘22 Olympics. It’s unlikely he’ll ever recoup the money. Gold medals are worth just $25,000 in the U.S. and even the USOC acknowledges that most athletes cannot earn enough from their sports to make a living. That’s not the case everywhere though, gold medals are worth $952,000 in Taiwan and $746,000 in Singapore.
Fan Marino: Frigid weather is likely to affect both athletes and fans at the Pyeongchang Games, with the average February temperatures (with wind chill) there in the single digits. The newly built 35,000-seat stadium that will host the opening and closing ceremonies (up to 5 hours long) doesn’t include a roof and it’s too late and expensive to build one now. For those attending, fear not; organizers have promised portable heaters in the isles, blankets and heating pads.
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