- Athletes losing major brand deals within a short time is not a strange thing in the sporting world.
- Athletes like Lance Armstrong lost more than ten brands in less than 24 hours.
- Losing these deals may cause an enormous blow to the athlete’s source of income.
There are several athletes who lost major brand deals within a short time; hence it’s not a strange occurrence in the sporting world.
We have seen athletes sleep while endorsing top brands and wake up when they were gone in an instant. This is a perfect example of here today, gone tomorrow.
Losing these deals may cause an enormous blow to the athlete’s source of income.
Athletes lose their sponsorship with prestigious brands when they are accused of crimes such as murder or get involved in scandals such as cheating.
Legendary boxer Mike Tyson is a perfect example of an athlete who has lost endorsement deals due to scandals.
Here, we will discuss six athletes who lost major brand deals within a short period of time.
1. Mike Tyson
Mike Tyson is undoubtedly the best boxer of his generation. However, he struggled to maintain his good in-ring reputation outside.
Mike Tyson’s worst moments include rape and domestic violence accusations, just to mention a few. These scandals gave the legendary boxer a bad reputation, and as a result, several brands immediately ended their partnership with him.
The domestic violence accusation, which he denied, cost him numerous sponsorship deals. Mike Tyson lost deals with Toyota, USA Today, Suntory Beer and Kodak.
The only endorsement deal he remained with was that of Nintendo, which he would later lose after suffering defeat at the hands of Buster Douglas.
2. Oscar Pistorius
Oscar Pistorius is a former professional sprinter who ran in both sprint events for below-knee amputees and non-disabled sprint events.
The South African athlete found himself in trouble in 2013 when he was convicted of murdering his girlfriend, Reeva Steenkamp. According to reports, Oscar shot his girlfriend.
Due to the murder charges, Oscar Pistorius lost his endorsement deals with companies such as Nike and Oakley. His partnership with Thierry Mugler was also affected, and he reportedly lost around $2 million.
Pistorius is currently in prison and will be eligible for parole in 2023.
3. Wayne Rooney
Wayne Rooney is a name that is very familiar to football fans around the world. He spent the majority of his football career playing for Manchester United, where he achieved great success.
Wayne Rooney is one of the footballers who does not have a very good reputation outside the pitch. Due to the scandals surrounding his life, Rooney is one of the athletes who lost major brand deals.
In 2010, Wayne Rooney was accused of infidelity. He allegedly cheated on his pregnant wife, something that did not go well with some of his sponsors.
Coca-Cola cut ties with Rooney due to the reports, whereas brands like Nike decided to continue with the partnership.
4. Tiger Woods
Tiger Woods is arguably the greatest golfer the world has ever seen. Due to his status in the golfing world, Woods endorses multiple brands.
However, some of the brands cut ties with him after it became public that he was cheating on his wife with other women.
The American international reportedly lost around $22 million because of the gone endorsement deals.
5. Lance Armstrong
Lance Armstrong is, without a doubt, one of the best cyclists in history. He earned numerous endorsement deals with top companies due to his achievements as a cyclist.
But anyone who knows his doping scandal could not be surprised to hear that he is one of the famous athletes who lost major brands within a short time.
Immediately the US Anti-Doping Agency reported that Armstrong was taking performance-enhancing drugs, he lost eleven sponsors.
Armstrong reportedly lost $150 million during that period.
6. Michael Vick
Michael Vick’s career received a massive blow in 2007 when he was found guilty of being complicit in a dogfighting ring on his property.
According to reports, Vick also did horrible things to dogs that performed poorly in the ring. He was sentenced to 21 months in prison and lost endorsement deals he had with brands like Nike and Rawlings.