Fila USA announced that, by mutual agreement, the
company has officially ended its relationship with Yankees
SS Derek Jeter, as part of an ongoing effort to concentrate
on athletic footwear and apparel categories that are core to
the brand. Fila USA President Jon Epstein said the decision
to part ways with Jeter, who signed with Fila in '97 and was
in the second year of a four-year pact, "was strategic in
that it demonstrates our commitment to categories that are
consistent with the heritage of the brand. While we have
respect for Derek and his appeal, we determined that
baseball is not a focus for the near term" (Fila).
SIGN OF THE TIMES: Sports endorsements are "no longer
lucrative," according to Luke Cyphers of the N.Y. DAILY
NEWS, who examined the state of the sports business industry
under the header "Market Crash." Following "years of
phenomenal growth," the industry is finding that the "glory
days of the past decade ... will be tough to recapture."
Although the overall sports industry, which is estimated to
contribute $324B annually to the U.S. economy, "has never
been bigger ... too many sports products, leagues and teams
are chasing too few dollars," the result of which "is an
industry shakeout." Cyphers: "While no one is putting a
going-out-of-business sign on the NFL, the NBA or even the
Florida Marlins, the sports world has found out it is not
immune from supply and demand" (N.Y. DAILY NEWS, 8/2).
