Current Video:Chatting with Phelps' agent|
FOX Business Channel's Liz Claman discusses sponsorships with Michael Phelps' agent Peter Carlisle.
Automatically Generated Transcript (may not be 100% accurate)
Welcome to this summer games technology fitness -- blocking by Scott trade. How do you translate that into money with a long -- sponsorships. That really translate well beyond the time that he is no longer swimming in the Olympics or for any races. That is Peter Carlisle problem at a course is solution he is Michael Phelps is agent. And it fox this is exclusive we caught up with Carlyle in London today. And asked him how do you market Michael Phelps now not so much as the Olympic swimmer but as a legacy and history maker. We've looked at sponsors is different ways I think the entire time meeting at the start it was a ten year plan. Ten years of -- competition especially and so it. We are always essentially have a very strong platform global platform so that when he was done with a competitive side of the sport. We'd have a sustainable. Global marketing platform. For decades. To fall. -- think about a salary you're talking about money and living beyond the Olympics which to me look at this and you say man. The Olympics. And for athletes is a very small and limited window Michaels has been a lot bigger than usual hasn't it up -- this direction keep that open. What are you looking for now as far as partnerships -- Partnerships. Now have to be not only longer duration. But they've got to be a lot more meaningful and now it's it's it's much less today. Financial consideration as it is depth and meaning of the partnership so it's. Where are we going globally how is he going to be activated. How meaningfully just integrate with some of the other objectives he has its foundation. His goals to grow the sport of swimming so it's much more of a partnership. Then just the transactional. Old person yeah. When Brian block team won the gold medal on Saturday he started to hear the world shatter. There's a new star in town. Whether that that has any validity overall because Michael's so far above as it pertains to how many -- are concerned. How do you as an agent now start to market have meant as a human being vs superhuman that he has been in the past. I think one of those one of the great you know assets Michael passes extraordinary athlete. But out of the pool. He's an ordinary guy and always has been he's been very candid about you know what he's all about and -- very approachable. By you know the media the general problems on fans and so I think that bad. Enables him to relate to somebody different people and somebody different countries and so great start -- you gotta gotta be marketed as a person that right from the get go. Speedo visa all debate got so outplayed the names go on and on head and shoulders. And then there's under -- And we look at this we say wow you know we look up publicly traded companies the center under -- taking on the Nikes of the world. What would you was an agent do it under -- it looks and says why can't we be like Speedo and get into the swimsuit business. We you have to make a decision at some point between speed of one under. Because of considerations that we. We have long before we actually start of the relationship so. That that's sort of things factored into the strategy -- it whether we work with the same company and what their long term. Objectives are so it would be unlikely that that would sort of come up this morning again. You work major and it took a chance on and on down back when he signed Michael and and you look at that and how -- -- -- When you watch this Olympics are you always some agent trolling for the next -- talent. Not really and I think did it at this point. The business and it didn't Michael has -- that we we built together and then we're. There were gonna continue to work on is is is very different than your typical Olympic athlete or is that he's a full time job. He is more than one couple -- again I am. This is the athletes moment isn't it to make money from their expertise and that are incredible ability isn't it went from. A typical Olympic athletes all about the games you've got to get it done. They are tuning in to this summer games technology and business report brought to you by Scott trade your home front line they. That's the trade.