Thursday, August 14, 2008

Michael Phelps, the billion dollar man?

I guess it is abit outdated to say that sportsman can't make big money...

Weighed in gold, Michael Phelps is worth about $3 million . In reality the face of the Beijing Olympics is probably worth 10 times that amount each year.

Phelps reportedly earns about $5 million a year from endorsements although his agency Octagon declined to comment. Portnoy forecast this rising to about $30 million, short term.

Phelps, who became a professional swimmer at 16 and a millionaire by 18, has sponsors, agents, lawyers, accountants, charities, his own website in English and Chinese, and even his own logo with a wave-like blue M and red P over his name.

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