4

NBA: Why #1 draft pick Victor Wembanyama is an unprecedented branding opportunit...

 10 months ago
source link: https://finance.yahoo.com/news/nba-why-top-draft-pick-victor-wembanyama-is-an-unprecedented-branding-opportunity-121738096.html
Go to the source link to view the article. You can view the picture content, updated content and better typesetting reading experience. If the link is broken, please click the button below to view the snapshot at that time.

NBA: Why top draft pick Victor Wembanyama is an unprecedented branding opportunity

Amazon opens second headquarters: What it means for the company
 The new 22-story towers 
 located in Arlington, 
Amazon opens second headquarters: What it means for the company
Scroll back up to restore default view.
Alexandra Garfinkle
·Senior Reporter
Fri, June 23, 2023, 9:17 PM GMT+9·9 min read

Turn on your TV and, pretty quickly, you'll see an NBA star selling something. There's the Golden State Warriors's Stephen Curry hawking Subway sandwiches, former Phoenix Sun Chris Paul cracking jokes for State Farm Insurance, and WNBA superstars Candace Parker and Sue Bird chatting it up in CarMax ads (with Curry, naturally). Then, of course, there's future Hall-of-Famer and current Los Angeles Laker LeBron James, who seems like he's selling everything in sight.

But soon, these stars will be welcoming someone new to the club, someone who may bring the game of athlete endorsements to a new level.

Meet Victor Wembanyama, 19, the most anticipated talent to come into the NBA since LeBron himself. Last night, he was drafted as the No. 1 overall pick by the San Antonio Spurs. For companies and marketers, Wembanyama – nicknamed Wemby – represents a once-in-a-lifetime opportunity. Commentators have described him as "unlike anyone we've ever seen," while NBA superstars like Curry and Kevin Durant have publicly expressed their awe. Wembanyama stands at a towering 7'4" – or something like that, as his official height hasn't yet been reported – with a wingspan even larger.

"There's never been a player with his physical skills, he could be LeBron 2.0," said University of South Florida professor Bill Sutton, a former NBA executive. "There just aren't any players who have a 7'5" wingspan who also have his ability to defend, shoot, and move. He's a Star Wars pick, that galaxy far, far away."

French basketball player Victor Wembanyama speaks during a press event ahead of the NBA draft, in New York City on June 21, 2023. A new era for basketball gets under way on June 22, when Wembanyama is set to be chosen by the San Antonio Spurs with the top pick in the NBA Draft. (Photo by TIMOTHY A. CLARY / AFP) (Photo by TIMOTHY A. CLARY/AFP via Getty Images)
A Star Wars pick: French basketball player Victor Wembanyama speaks during a press event ahead of the NBA draft, in New York City on June 21. (Photo by TIMOTHY A. CLARY/AFP via Getty Images)

For the NBA's preeminent athletes, there's a lot of money on the table, when it comes to endorsement deals. In the 2022-2023 season, James made $80 million on endorsements, for instance, while Curry, Durant, and Giannis Antetokounmpo all made more than $40 million apiece, according to data from Statista.

Some experts say Webanyama can top them all.

Wembanyama comes from a different place than many of basketball's biggest stars – literally. He's from France, played for the country's Metropolitan 92s, and is entering a league still dominated by athletes from the U.S. In a showcase game last year against the pro G League Ignite – his first in the US – Wembanyama's staggering stat line included 37 points and 5 blocks.

Recommended Stories
  • 116291706cdb428e924d9679023ebf3e.cf.webp
    Reuters

    Citi will hold employees 'accountable' for office attendance -statement

    Citigroup will start holding employees "accountable" for compliance with hybrid work model rules, the bank said in a statement on Thursday. Bloomberg reported earlier the bank will start to check whether employees are complying with the requirement of working at least three days a week in the office. Bloomberg reported the bank will consider office attendance when rating employees' performance and pay.

    1d ago
  • 1aa37ca0-11ec-11ee-bffc-918ba61dff95.cf.webp
    Yahoo Finance

    Nikola suspects 'foul play' in fire at EV-truck maker's headquarters

    Friday’s fire is the latest piece of tough news for Nikola, following on the heels of last week’s disclosure that the company would lay off around 270 workers.

    9h ago
  • 29e9e7cbd21e7b9a70d3205a367269cc.cf.webp
    Reuters

    CarMax says vehicle affordability remains a challenge, cost cuts help profit

    (Reuters) -CarMax Inc said on Friday that vehicle affordability remains a challenge due to high interest rates and low consumer confidence, but cost cuts helped the used-car retailer post a quarterly profit beat. Although used-car prices have cooled of late, retailers have been hit hard as inflationary pressures and improving new vehicle supply have put off consumers from purchases of pre-owned automobiles. "The overall used market obviously is still depressed," CEO William Nash said on a call with analysts.

    15h ago
  • c4d6e6ff75a17c35946340ddd40700fa.cf.webp
    Barrons.com

    Nvidia Stock Could Be Headed for a Fall. One Firm Explains Why.

    Nvidia stock has been a beneficiary of the artificial intelligence craze, but it’s fair to ask if shares have come too, far, too fast. Nvidia ‘s (ticker: NVDA) stock dropped 1.7% to $430.45 on Wednesday, and is off another 0.2% on Thursday. The euphoria gained more momentum late last month when Nvidia said its fiscal second-quarter sales are expected to be about $11 billion, surpassing Wall Street’s projection of $7 billion as chips that enable artificial intelligence applications experienced a surge in demand.

    1d ago
  • 518a2090-1140-11ee-afbf-9febbc6309b7.cf.webp
    Yahoo Finance

    The market's 'fear gauge' just hit its lowest level since January 2020: Morning Brief

    Despite a few unknowns around the corner, the VIX is showing a very calm market — the calmest since the pandemic began.

    16h ago
  • a77d185c1767e3197a5f1922d5cbd2fd.cf.webp
    SmartAsset

    T. Rowe Price Says to Use This Loophole to Save Your Heirs Big Money

    Deciding which accounts you'll withdraw money from – and when you'll take it – is an important decision in retirement. However, you may want to consider preserving assets held in a taxable brokerage account and passing them down to heirs. … Continue reading → The post This Tax Loophole Can Save Your Heirs Big. Here's How T. Rowe Price Says to Use It appeared first on SmartAsset Blog.

    13h ago
  • e8f99a60-11bc-11ee-bee3-242504ce9914.cf.webp
    Yahoo Finance

    This is how much Americans think they need for a comfortable retirement

    On average, Americans expect they should save $1.27 million for a comfortable retirement. But they're far from that goal.

    14h ago
  • 4fcf581d37c7e6361c81aaa774d777f0.cf.webp
    Reuters

    Epstein victims seek approval of JPMorgan $290 million settlement

    Jeffrey Epstein's victims have formally asked a U.S. judge to preliminarily approve JPMorgan Chase's $290 million settlement to resolve claims that the largest U.S. bank turned a blind eye to the disgraced financier's sexual abuses.

    22h ago
  • d6cdcd127684087f1cea2e01d993e61d.cf.webp
    Bloomberg

    Banks Hit by Worst Week Since May as Regulatory ‘Waves’ Loom

    (Bloomberg) -- Bank stocks’ recovery from their swoon earlier this year took a step back this week, with one prominent analyst cautioning that US lenders face a series of regulatory headwinds over the next few months.Most Read from BloombergTitanic Sub Crew Dead After Vessel’s Catastrophic ImplosionFive-Star Hotel Guest Leaves Without Paying After 603-Night StayGoldman Sachs Is Cutting About 125 Managing Directors GloballyThe Big Names That Got Backstop for Billions in Uninsured SVB DepositsThes

    6h ago
  • 7e14999252976dbcf973263122869e5c.cf.webp
    Bloomberg

    Qatar’s Wealth Fund to Buy Stake in NBA’s Washington Wizards

    (Bloomberg) -- In a first for US sports, Qatar’s sovereign wealth fund has struck a deal to buy a stake in a company that owns a trio of franchises, including the National Basketball League’s Washington Wizards, according to a person familiar with the situation. Most Read from BloombergTitanic Sub Crew Dead After Vessel’s Catastrophic ImplosionThese Are the World’s Most (and Least) Liveable Cities in 2023US Navy Detected Titanic Submersible’s Implosion Days AgoFive-Star Hotel Guest Leaves Withou

    20h ago
  • bd354055969af488c6aaa1ff09b7742f.cf.webp
    The Wall Street Journal

    The NBA’s Next Big Sensation Lands in a Perfect Basketball Home

    Victor Wembanyama is officially taken No. 1 by San Antonio, a patient franchise which has done this before.

    13h ago
  • 04277fed3b9af76330c55e1bd4dc2bc3.cf.webp
    Quartz

    IBM is introducing generative AI commentary to Wimbledon

    Forget about the fake AI crowds that were used during live matches of the English Premier League during the pandemic, generative AI commentary is now coming full-swing to sports commentary. Tennis is the first sport to trial the technology.

    2d ago
  • 5714d4a660887422d7ee629fba2702cf.cf.webp
    Reuters

    Fracas in Vegas? Musk, Zuckerberg talk cage match in social media bluster

    Forget about famed boxing bouts like the Rumble in the Jungle or the Thrilla in Manila -- billionaire social media moguls Elon Musk and Mark Zuckerberg have been egging each other into a mixed martial arts cage match in Las Vegas. In recent days, Twitter owner Musk and Facebook parent Meta CEO Zuckerberg - whose social media platforms duke it out daily for advertising dollars - have been trading bluster about going mano a mano. The brouhaha began Tuesday when Musk tweeted he was "up for a cage match" with Zuckerberg, who's trained in jiujitsu.

    1d ago
  • 622ae7658d016172e2779dfd90bbf31e.cf.webp
    Decrypt Media

    Will Elon Musk Fight Mark Zuckerberg in a Cage? You Can Bet on It

    As a potential battle between Elon Musk and Mark Zuckerberg looms, crypto gamblers are placing bets via Polymarket.

    10h ago
  • cb1193b43b3848081382a529dab3295a.cf.webp
    The Wall Street Journal

    Victor Wembanyama Is Finally Selected No. 1 by San Antonio in the NBA Draft

    If the 19-year-old French phenom avoids injury and develops as expected, the Spurs still face the daunting task of building a contender around him.

    1d ago
  • 005b188be3877bf2895df398ba25fa4b.cf.webp
    AP Finance

    Tech billionaires' cage match? Musk throws down the gauntlet and Zuckerberg accepts challenge

    Elon Musk and Mark Zuckerberg are ready to fight, offline. In a now-viral back-and-forth seen on Twitter and Instagram this week, the two tech billionaires seemingly agreed to a “cage match” face off. It all started when Musk, who owns Twitter, responded to a tweet about Meta reportedly preparing to release a new Twitter rival called “Threads.”

    1d ago
  • 6dfce810892236a0c17958f935e61cac.cf.webp
    CoinDesk

    NFL Rivals Scores 1M Downloads for NFT-Based Mobile Game

    NFL Rivals, a free-to-play game from Mythical Games, has managed to score over a million downloads despite debuting amidst a harsh crypto environment and in the off-season of the NFL itself.

    1d ago
  • 6159bcfe4ddee5d02dbf796b0df9f292.cf.webp
    Investor's Business Daily

    Supreme Court Student Loan Ruling May Raise U.S. Recession Risk

    The Supreme Court ruling on President Biden's student loan forgiveness may be unprecedented in its impact on consumer finances.

    12h ago
  • 4d4aae238ac9e98f1d7f42c3098472cd.cf.webp
    Benzinga

    Disturbing Trend For Real Estate Investors: Homes Sold At A Loss, Numbers Not Seen Since 2016 — But This Booming Alternative Is Open To Anyone

    The glory days of real estate investors buying and flipping homes for quick profits seem to have hit a roadblock. It appears that investors are now losing on approximately one out of every seven homes they sell. In certain U.S. cities, sky-high house prices and elevated mortgage rates have diminished homebuyer demand, forcing investors to sell homes at a loss. A recent report by Redfin reveals that in March, investors lost money on roughly 13.5% of the homes they sold, while only 4.8% of overall

    13h ago
  • 5eea39c0e941d9c5023a6ca20c872221.cf.webp
    Investor's Business Daily

    This Fidelity Fund Quietly Beats Cathie Wood At Her Own Game

    ARK Invest's Cathie Wood is the one to beat when it comes to growth stocks. But it looks like Fidelity found a way to do it with S&P 500 stocks.

    14h ago

About Joyk


Aggregate valuable and interesting links.
Joyk means Joy of geeK