Famous athletes often tend to spend their retirement in very different ways; some enjoy time out of the limelight, others spend their retirement celebrating, and some go on to form businesses.
Some of the most popular sports personalities, like Michael Jordan, Tony Hawk, George Foreman, Magic Johnson, and David Beckham, have all gone on to become successful in business.
ProfitDuel, who display the latest sportsbook promo offers, has looked into the athletes who have gone on to become entrepreneurs.
Michael Jordan: The King of Athletic Apparel
Michael Jordan: a name that has become synonymous with the basketball world and beyond. Whilst we all know about the six championships and some of the most clutch shots ever witnessed, what has truly set Jordan apart from his contemporaries is his partnership with Nike, which began in 1984 when he was merely another rookie.
What started as a simple shoe line in the 1980s has evolved into something few could have envisioned. The now multi-billion-dollar Jordan brand has expanded far beyond footwear, branching into apparel, accessories, and even sports team ownership.
The iconic Jumpman logo has catalyzed building a brand that has transcended Jordan’s basketball legacy, establishing him as one of the most successful sports businessmen of all time.
Tony Hawk: Grinding His Way to Gaming Glory
Tony Hawk, one of the all-time greats of skateboarding, has turned his brand into a multimillion-dollar industry. From building his own company, Birdhouse Skateboards, to the Tony Hawk Pro Skater video game series, the icon has done so much to push the sport he loves into mainstream culture.
His video game series, which has had a truly massive cultural impact, saw its golden era between 1999 and 2007. Titles like Tony Hawk’s Pro Skater 2, 3, and 4 revolutionized the sports gaming market with fresh arcade-style gameplay. With an iconic soundtrack backing it, it’s no surprise that the series has achieved the success that it has. Bands like Goldfinger, Bad Religion, and Dead Kennedys became heavily associated with the games, helping to popularize skateboarding culture and introduce a wider audience to punk rock.
George Foreman: The Heavyweight Champion of Kitchen Appliances
George Foreman, the boxing legend, became a household name in an entirely different industry that surprised many. The launch of the George Foreman grill transformed his partnership with home appliance companies into one of the most successful business ventures ever seen by a former professional athlete. The brand took the market by storm with its convenient and healthy cooking approach, becoming a massive hit that sold over 100 million units worldwide.
With Foreman’s name attached, the product was viewed as more than just another kitchen appliance – it became an iconic gadget that many loved and continue to love today. The excellent marketing behind this partnership played a massive role in its success. Foreman’s friendly and approachable promotional style helped transform the grill from a simple cooking device into a kitchen staple.
Magic Johnson: The Master of Entertainment Enterprises
Magic Johnson Theaters is one of the most innovative and impactful business ventures ever undertaken by an athlete. Launched in 1994 with a partnership agreement between Johnson Development Corporation and Sony Pictures Entertainment, the first multiplex opened in July 1995 at Baldwin Hills Mall in Los Angeles.
The idea behind this business venture was to build high-quality multiplexes in urban communities to bring high-quality facilities and technology, and new job opportunities to help boost the local economy. Johnson’s idea behind this venture was based on how African Americans were the biggest demographic going to movie theaters, but theaters weren’t available in the neighborhoods that had the highest African American population.
And these movie theaters were truly special – each complex was around 60,000 square feet with concession areas and 10 to 15 screens, with a capacity of 3,200 to 5,000.
Currently, the chain’s former locations are owned by AMC Theatres, after Sony-Loews was acquired by that company in 2006. Although they are still branded Magic Johnson Theatres, he is no longer actively involved in the management.
David Beckham: The Global Brand Builder
David Beckham’s transition from soccer superstar to business mogul showcases the power of building a global brand. His business acumen became especially clear when he co-founded Inter Miami CF, which brought the worldwide sport of football to the coastal city of Miami.
Beckham’s entrepreneurial journey with Inter Miami went a lot further than just establishing the club—the former Manchester United star played a large part in creating the culture and brand around the club, helping to boost it to be the global sensation that it is today.
On top of his most popular venture, being the football club, Beckham Holdings has managed a range of business ventures, including everything from luxury fashion collaborations to grooming lines.
The Winning Formula
What do these athletic entrepreneurs have in common? They all understood that their athletic success was just the beginning, not the end, of their story. They leveraged their competitive drive, work ethic, and public platforms to build businesses that reflect their personalities and values.
