Interesting announcement today from Cristiano Ronaldo, posted on his facebook page, that his team has closed a deal to allow Mint Media to acquire his image rights.
If Peter Lim’s name sounds familiar, its because he has recently made huge splashes in football, in April of 2015 was rated eighth amongst Singapore’s 50 richest people with an estimated net worth of $2.0 billion by Forbes Magazine.
This was on the heels of making headlines in 2014 by purchasing a controlling stake in Spanish football club Valencia for $475 million. Soon thereafter he dropped another $51 million for two players from Portuguese football club Benfica. He also agreed to throw in for a 50% stake in Salford City Club, from former Manchester United players Gary Neville, Ryan Giggs, Paul Scholes, Nicky Butt and Phil Neville, and has invested in a hotel near old Trafford.
So, for a guy that is in to football, and in to making money, why not alighn himself and his company with one of the worlds biggest stars?
Accoring to a report from channelnewsasia.com, “Peter Lim’s Mint Media will own and administer all of football star Cristiano Ronaldo’s image rights, except for those related to Real Madrid, for six years.”
If you arent quite sure what this means, here it is defined: The right of publicity, often called personality rights, is the right of an individual to control the commercial use of his or her name, image, likeness, or other unequivocal aspects of one’s identity.
One of the most common examples, of a celebrity image rights deals would be the famous George Foreman and George Foreman grills great deal of the past.
He sold his image and name rights to some random company for close to $140m USD and then the Foreman Grill became the most popular thing in the history of the planet.
He got a check in the beginning, a company found something to throw his name on, and they made a ton of dough too.
With the Cristiano deal, its obviously not quite the same since Real Madrid still retains some image rights of his, and this is just for his image rights, but this could be something very very lucrative as one could imagine.
We talked about a week ago about Jerome Boatend signing with Roc Nation for management in the United States and looking to appeal to a broader audience, and everyone knows that the two great frontiers coveted most based on population and marketing opportunities are the United States and Asia, and not particularly in that order.
Seems like another genius move to me by Cristiano.