LeBron "Would Love" To Own NBA Franchise New Orleans Officially Hosting '17 NBA ASG NBA Teams Talking Jersey Deal With Emirates Pacers Unveil Plans For Luxury Entertainment Area Sportradar, Second Spectrum Close To NBA Deal? Frost's Connection To Knight Assisted In Nike Deal Gores Talks Potentially Moving Pistons Downtown Carmelo Won't Use Olympics For Social Statement NBPA's Michele Roberts Support Player Activism Nike-Sponsored Golfers Faced With Uncertainty
SBD/23/Sponsorships Advertising Marketing
FILA SCORES WITH SEVEN-YEAR, $80M CONTRACT DEAL FOR HILL
Published September 23, 1997
Fila Holding signed Grant Hill to "one of the richest sports endorsement contracts ever" with a pact for "at least" $80M over seven years, according to Stefan Fatsis of the WALL STREET JOURNAL. The deal, expected to be announced today, "catapults" Hill into "the sneaker-riches realm" of Nike's Michael Jordan, and gives him "a sweeping role in the company's operations." While Fila's stock "has plummeted to around $28 a share ... from $105 a share a year ago," Fatsis reports that the company "is counting on" Hill to "revive a brand he helped create" (WALL STREET JOURNAL, 9/23). GRANT'S SHOW: Hill will receive "a base salary and minimum royalty guarantees on his signature products, plus royalties on sales of other Fila products, performance bonuses and stock options," and will "head a committee to advise Fila about marketing initiatives and other athletes the company should enlist." The company "renegotiated the last two years" of Hill's existing Fila deal which paid him "around" $6M a year. Under the new deal, Hill will be "asked to boost the company's profile outside the U.S." Fila Senior VP/Sports Marketing Howe Burch: "We think Grant is more than a guy who just sells shoes. We think he is a brand influencer, not just here but around the world." Hill, on his new advisory role with the company: "It makes me feel vested in all the decisions I make." Asked what he would tell NBA players who tried to use an on-court relationship to ink a Fila deal: "Give me 10 good reasons why we should take you on" (WALL STREET JOURNAL, 9/23).