Michael Phelps and his family members "have generated more than $5 million in equivalent brand exposure" for Aqua Sphere at Rio, according to Apex Marketing figures cited by Thomas Barrabi of FOXBUSINESS.com. Phelps wears Aqua Sphere's "MP" logo "on his swim cap" during competition, while his fiancee and infant son "have also worn the logo" in the stands. Apex Marketing Managing Partner Eric Smallwood said that the $5M figure "should grow by several millions more before the end of this year's Olympics." Barrabi noted Under Armour has earned around $200,000 in brand value "from fleeting moments in which NBC cameras caught Phelps wearing the company's logo on a hat and sweatshirt between events." Neither Aqua Sphere nor Under Armour are official Olympics sponsors (FOXBUSINESS.com, 8/10).
SPLIT HAPPENS: Aqua Sphere Business Line Manager Todd Mitchell said Phelps' swim cap tearing in half before he participated in the 4x200-meter freestyle relay on Tuesday is "certainly not a moment you dream about." REUTERS' Liana Baker noted Phelps had to borrow teammate Conor Dwyer's cap and turn it inside out "to hide the rival logo" of Speedo. Mitchell said, "There's a reality that the caps are made of silicone. Those things do happen." Baker noted Phelps' agreement with Aqua Sphere for the "MP" line "runs through 2020 and includes equity-type elements, which may include royalties or a cut of sales" (REUTERS, 8/10). Baker noted Aqua Sphere used a mold of Phelps' head "to make this cap, which hits above the ears so Phelps can hear the roar of the crowd." Baker: "He has his fingerprints all over this cap, and frankly, it didn’t look so good on TV that it just split at this really important moment” (REUTERS.tv, 8/10).
