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Forget Endorsements: Sports and Entertainment Stars These Days Want Equity
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******************************** Forget Endorsements: Sports and Entertainment Stars These Days Want Equity http://knowledge.wharton.upenn.edu/index.cfm?fa=viewfeature&id=1867 A generation ago, the only financial goal for a superstar African-American athlete at the peak of his career -- beyond a large contract -- was to nab a lucrative endorsement deal with a big sneaker company, like Nike, or a national brand, such as McDonald's. The idea was to earn several million extra dollars before his skills began to wane. Those short-term goals remain, but today, many in the National Basketball Association or the National Football League want something more substantial -- like a long-term piece of the action. A panel at the recent 34th Annual Whitney M. Young, Jr., Memorial Conference looked at the business deals and humanitarian activities that today's stars are conducting well after their days on the playing field are over.
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