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Marketing and Sponsorship

Golfer Arnold Palmer Remembered As Sports Business Trailblazer

The passing of golfer Arnold Palmer "has reminded the world of a true trailblazer in sports business," according to Bill Wilson of the BBC. Palmer, who died at the age of 87, "was the first sportsman to use his fame to build a business empire" through an array of commercial ventures. He put his name to products and services, including United Airlines, Cadillac cars, Rolex watches, Hertz car rental and Callaway golfing products. The effects of his vision "spilled over into other sports including tennis." Sports sponsorship expert Nigel Currie said, "He had the good looks, and affable persona and smile, as well as golfing ability, to become the template for what every successful sports endorser should be." He was Mark McCormack's -- "the undisputed king of sports marketing" -- first client at IMG, and together they "invented a way of making more money off the golf course than on it." In the first two years of his agreement with McCormack, the golfer's endorsement earnings "leapt from $6,000 a year to more than $500,000." He founded Arnold Palmer Enterprises to handle his endorsements and other ventures. Currie: "Palmer was such a huge golfing icon in America, he was hugely popular with the public, and he and McCormack were able to make money from using his personality in conjunction with different brands. And it was not just endorsements during his playing career, nor indeed just golf brands. He also made a huge amount of money after he stopped playing." Currie added that the power of Palmer's personality in securing such a powerful commercial position for himself "should not be underrated, given that he was not the most global successful player ever." He said, "Jack Nicklaus was the more successful player, and won more titles" (BBC, 9/26).

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