As reported by Bloomberg, David Beckham’s latest financial deal illustrates the savviness of the champion athlete while playing on the field but also with his entrepreneurial efforts off it, cementing his future once his playing days are over.
It’s what we call “playing with one foot in today and a foot in tomorrow”.
Las Vegas Sands Plans to Score With Beckham in Branding Tie-Up
Vinicy Chan | Forbes | 23 Nov 2013
Las Vegas Sands Corp. (LVS) plans to brand it like Beckham by signing an agreement to cooperate with the former Manchester United, Real Madrid and England football star’s company to promote its business in Asia.
The co-branding venture will focus on dining and retail, Sands China Ltd. (1928) Chief Executive Officer Edward Tracy said at a press conference in Macau yesterday, without providing further details. Las Vegas Sands last year got almost 60 percent of its revenue from casino resorts in the Chinese city.
Sands is betting David Beckham’s celebrity status in China will help give its brand a boost in a country where casinos are forbidden from advertising. Earlier this year, the former England captain said he would act as a global ambassador for soccer in the world’s most populous nation, and the China Football Association invited him to promote the game among the youth.
“I miss football but I’m happy that I have something set up and I can just jump into another career as long as I get off the field,” Beckham told reporters in Macau yesterday, referring to his company Beckham Ventures as well as work on various brand tie-ups and charities. “I’m glad that there are so many business opportunities presenting in front of me and I can become a businessman now.”
It’s the former footballer’s first visit to the world’s largest gambling hub. He didn’t take questions from reporters.
Beckham retired from soccer earlier this year and remains one of the world’s most marketable sports personalities. Forbes magazine in June put his total earnings at $47 million, making him the eighth-highest paid athlete. Tiger Woods topped that list with $78 million.
The Las Vegas company’s Marina Bay Sands resort in Singapore will also benefit from the Asia deal announced yesterday.
© 2013 Bloomberg | This article first appeared in Bloomburg on 23 Novmeber 2013.