Word: borg
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...seemed an unlikely predicament for Bjorn Borg, the world's wealthiest tennis player, but Borg rarely carries much cash with him. He does not have to. A small army of accountants, financial advisers, marketing experts and other support troops are employed to manage his money, his personal needs and his vastly lucrative image. Borg has not quite reached the dizzying heights of Arnold Palmer, the top earner in all of sport, who has made roughly $60 million in his career from golf and business ventures. "But he's getting closer," says Mark McCormack, founder and president of Cleveland...
Under IMG's careful programming, Borg will earn about $2 million this year just playing tennis. He will appear in some 30 exhibition matches that, at $30,000 to $60,000 a day depending on how far he has to travel, will bring him $1 million or so. Then there are the tournaments. Last year Borg entered fifeteen, defaulted two times, won ten and took home $1,008,742 in winnings. This year his schedule calls for twelve tournaments, and barring injury, there is no reason to think he cannot do as well...
...Borg will also make an additional $3 million or more this year that does not involve lifting a racquet. He has lent his name to almost 60 products. Among them: tennis shoes, training devices, racquet-stringing machines, instructional video and audio cassettes, balls, ball machines and headbands. Other firms line Borg's pockets for promoting breakfast cereal, bread, soft drinks, leisure shoes and clothes, sunglasses, tanning lotion, key rings, pencils, erasers, posters, calendars, confections (a Borg candy bar is sold in Europe), blue jeans, jewelry, glucose tablets, men's cologne, liquor (in Brazil) and a Bjorn Borg doll...
...Some of Borg's endorsements bring more than cash...
...Airlines paid him last year for wearing their logo on his sleeve, came free first-class air passage on SAS for him and discount fares for his parents. Donnay racquets of Belgium, which is paying him around $600,000 a year plus a commission on each Borg model racquet sold, also must provide the star with the 30 or so $75 racquets he takes with him to tournaments. In Australia, he endorses Bancroft racquets for another $90,000 or so a year and all the racquets he can break. Fila, an Italian tenniswear firm, gives him approximately...