The Sharks Circle
May 27, 2014 - Casey Barrett
She’s the most marketable Olympian alive. Across every sport, Summer or Winter, Phelps and Lochte included, you won’t find a more appealing athlete for endorsements in the lead up to Rio. Two years out and Missy Franklin is already the confirmed face of the 2016 Olympics.
Much was made about her decision to forgo the pro path after London and attend college at Cal, including by yours truly (Why She Went to College), but let’s be honest, that was always a halfway commitment. Missy, and her parents Dick and D.A., who are highly active behind the scenes, never had any intention of swimming through the full four years of her collegiate eligibility. She longed for the college experience, and she’s getting it, but the time has come to start talking dollars and sense.
This four-time Olympic champion is a sponsor’s dream. She may not have the 8-gold epic-ness of Phelps in her future, and she may not have the twinkling-eyed model smirk of Lochte, but Franklin has something neither of those two man-childs possess. Actually, quite a few somethings. She is that rare transcendent athlete who is also relatable, down-to-earth, and somehow, retains an accomplishment-defying humility. She might be a mutant of physical excellence, like all highest-tier Olympians, but she possesses an unaffected star power that seems rooted in appreciation.
This sounds like I’m among the agents pitching her these days. She and her parents have clearly been hearing much of the same from many quarters. In this week’s Sports Business Journal, the trade reports that meetings have begun in earnest among top agencies trying to woo the Franklins to their star athlete stables. (I’d include the link to this piece, but it appears you have to be a subscriber to access SBJ stories online…)
These agencies include CAA (home of Lochte); IMG (Lindsay Vonn); The Legacy Agency (Lolo Jones, Kerri Walsh); and of course, Octagon, where Phelps has resided since he turned pro way back in 2001. Safe to say she’ll be just fine at any one of these hot spots. Each will come flooding into her orbit with big ideas and big promises and big-time endorsement contracts. In less than a year’s time, Missy Franklin will be a multi-millionaire.
Those new representatives will also get theirs. Anything an athlete makes in endorsement income, the standard is that the agent keeps about 20 percent. A $5 million deal with Kellogg? Lovely! The agency will collect a cool million for their trouble. That’s just one example, probably ample. As the deals continue to spin, and the potential earnings add up, one can see just how valuable a commodity Franklin has become.
Her refusal to turn pro right after London may have actually helped her in the long run, and not just for the two blissful college-years she’s in the process of enjoying. Provided these years proceed without any real hiccups or injuries, her value continues to soar as she sits on the professional sidelines. She’s already a proven quantity on the Olympic stage; she’s a proven quantity as an athlete with her priorities refreshingly in order; and she’s yet to endorse a single thing. All of which adds up to the Sports Business Journal calling her “the most sought after Olympian for agencies in more than a decade.”
Indeed, the sharks are circling. But first they’ll need to swim past Missy’s father, Dick Franklin. See, Mr. Franklin has spent much of his career as a sports business executive, working for Reebok and Head tennis. Agent Evan Morgenstein, who is quoted liberally in the SBJ story, but knows he can’t sign her himself, points out that Dick Franklin will likely act as “the point guard” in the team that assembles around Franklin beginning next spring.
Reading all of this in the works, can you blame her from wanting this last gasp of campus normalcy? Just two years to indulge in the fantasy that you’re a regular college kid, just like all your friends. But Missy Franklin isn’t normal; she’s so abnormal in fact that there is a growing line assembling in front of her, just waiting to pour millions into her bank account the moment she says so.
The irony is that what makes her most valuable is the fact that, despite all those heady money clouds on the horizon, she remains motivated by all the right stuff.