With winter term of my senior year coming to a close, I’ve found my way back to the bloggosphere. Hello, old friend. This past term I took a class entitled, “Olympic Sports Marketing.” Loved it. And a lot of what we discussed in class is relatable to PR. One topic was aligning the brand with the values and goals of the Olympic Games as well as committing to a long-term investment. One thing that surprised me was the cost of becoming an official sponsor of the Games. It costs $80M to be associated with the Olympics – keep in mind, this is just the right to say you’re an official sponsor. On top of that, these select few sponsors spend a minimum of $200M to market themselves as such. This is an incredible amount of money, and although I won’t get into it, this money is spent to do good – but could also be used to resolve the global food crisis; just saying.
But back to branding. These sponsors know that they are committing to a long-term, strategic investment. To maximize their investment, they must be 100% committed to the Olympic brand. They must align themselves with Olympic values, both through their online presences and through traditional media.
With this on my mind, I couldn’t help but think about branding when I saw this morning’s front page of ESPN.com, “The Art Of The Deal – The Broncos got Peyton Manning for five years, $96 million.” At the press conference scheduled for later today, Manning will be announced as the Broncos’ new starting quarterback. The franchise now faces the task of trading its current starting quarterback, Tim Tebow. There is no doubt this is a risky investment. Peyton is 36 years old. He’s missed the 2011 season to undergo several neck surgeries. Tim Tebow is a fresh 24. Yet the Broncos are tossing Tebow aside for Manning, with a pay schedule banking on him playing five more seasons.
But perhaps it’s not about a championship ring. The Brancos are aligning itself with the Peyton Manning brand. There is no doubt that Manning is (or will become) a football legend. In fact, rumors surfaced before the deal was signed stating that Payton was offered a guaranteed position on staff with the courting rival Tennessee Titans should he live out the terms of its contract. This was never about buying a great quarterback. It’s about aligning a franchise with one of football’s greatest stars. And by star, I don’t just mean on the field. I mean, Manning’s squeaky clean, fatherly, honest, all around good image.
I’m not going to say I agree with Manning’s paycheck. My father has ingrained in me for twenty two years that athletes are grossly overpaid. What I am saying is that from a branding standpoint, this is a smart move for Denver. Peyton Manning is (or will be) a legend. Good players want to play with legends. Period.