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Modern sporting icons such as David Beckham, Michael Jordan and Tiger Woods are as famous for their marketability as for their athletic prowess. And as sport becomes more commercialised, the opportunities to make money through sponsorships, TV rights deals, product endorsements and various other revenue streams multiply.
It is little surprise that the giant marketing services holding companies such as WPP, Omnicom and IPG all own sports marketing specialists. Although these businesses - with the exception of IPG's Octagon - generate only a fraction of the turnover of the major advertising agencies, they are an important strategic fit, particularly when many clients are exploring alternatives or adjuncts to advertising to meet marketing objectives.
'All large brands are looking at new, non-traditional areas of communications and sports sponsorship is a prime …