| | ESPN.com news services
NEW YORK -- After she won the U.S. Open, Venus Williams took
a congratulatory phone call from Bill Clinton and told the
president, "Lower my taxes."
|  | | Venus Williams enjoys showing off the product that will pay her $40 million over the next five years. |
Now, armed with what is reported to be the richest endorsement
deal for a female athlete, Williams might need a word with
President-elect Bush.
"My people will have lunch with his people," Williams said
Thursday after signing a multiyear contract extension with Reebok.
Terms were not announced but the deal was reported to be worth
$40 million over five years.
"I won't deny the reports that have been put out there," said
Angel Martinez, chief marketing officer for Reebok. "If the
reports were far off base, I'd be jumping up and down and would let
you know that."
Martinez said the international sportswear giant considered
20-year-old Williams its biggest star, and a leader of the women's sports
movement called the package "an important precedent" for female
athletes.
"It's a great day for you, but it is also an unbelievably,
positively uplifting day for sports, especially women's
sports," said former tennis champion Billie Jean King in a
telephone hook-up from Arizona.
"It's just fantastic the recognition for Venus and how
versatile she is. She is fun to watch. Just her being on the
court, it's a great pleasure," said King, who was captain of the
U.S. team at the Sydney Olympics, where Williams claimed
the gold medal in singles and in doubles with her younger sister, Serena.
"I know that that Althea Gibson is particularly happy today
and Arthur Ashe is, in spirit," King said of the past two
African Americans to win the coveted Wimbledon title.
Huge endorsement deals are rare in women's sports. Monica Seles
signed a five-year, $25 million deal with Nike after returning to
the women's tennis tour in 1996. Martina Hingis has a six-year Nike
contract that pays close to $30 million.
Nike also has endorsement agreements with Mia Hamm, Lindsay
Davenport, Lisa Leslie and Marion Jones.
Anna Kournikova may have the richest deal of all, a six-year
contract with Adidas worth $50 million. But that agreement includes
many incentives, including Grand Slam victories and high rankings
for a player who has yet to win her first tournament. Its guarantee
is about $3 million.
By contrast, Nike has a reported $100 million deal with Tiger
Woods, and Michael Jordan generates $40 million a year in
endorsement income two years after his retirement.
The Reebok deal thrusts Williams into the higher echelon of
endorsement income for female athletes. And like Woods, she has
succeeded as a minority athlete in a sport historically dominated
by whites.
The impact is expected to be widespread.
"There is no doubt that this endorsement agreement represents
the largest such commitment to any female athlete," said Donna
Lopiano, executive director of the Women's Sports Foundation.
"This is an important precedent for women's sports that announces
a new era in the corporate valuing of the female athlete."
David Bober, who represents Hamm, was impressed with the
Reebok-Williams contract.
"That's a pretty significant contract for a female athlete,"
he said. "It can only help shorten the gap between male and female
athletes on endorsements. It's another signal that we are moving
toward parity, a clear message that women's sports are here to
stay."
"The terms are confidential," said Williams, who won Wimbledon, too, and is
ranked third in the world. "I'll wear Reebok wherever I go. It's a
company I believe in. We don't jump on bandwagons."
Neither does Reebok. The company has been affiliated with
Williams since she was 11 years old. Their previous agreement, a
five-year, $12 million deal signed in 1995, expired in April, just
before Williams began a 35-match winning streak.
Her younger sister, Serena, has an endorsement deal with Puma.
Martinez said Venus Williams remained the company's priority.
"We made a decision there is no better athlete to represent our
brand," he said. "When she won tournament after tournament, it
added to our excitement."
Williams recognized the significance of the
contract.
"I have to be the best in everything I do," she said. "We've
come a long way with the WNBA and the soccer players. I'm doing
what I can. Maybe that's the most important part.
"This is a big moment in my life. This is another part of
reaching out for my dreams." | |
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AUDIO/VIDEO
 Venus Williams talks about her huge multi-year contract extension with Reebok.
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