Phelps rakes in an estimated $5 million a year in endorsement deals, but
he may see his income rise exponentially after his performance at the summer
Olympics.

Measured in gold, he's the most successful Olympian of all time.  And
thanks to his record-setting winning ways in the Beijing Olympics, American
swimmer Michael Phelps has become a marketer's dream.

The 23-year-old native of Baltimore represents a who's who of corporate
America-- including Speedo......AT&T....... and Visa -- which unveiled a
new television commercial within seconds of Phelps's snapping up his record
10th gold medal.

Phelps rakes in an estimated $5 million a year in endorsement deals, but he
may see his income rise exponentially after his performance at the summer
Olympics.

Phil de Picciotto is the president of Octagon, the sports marketing firm
that has represented Phelps since he turned professional at the age of 16.

Phil de Picciotto, president of Octagon, saying:
"The partnerships that are established during that short window of
their athletic performance excellence can be sustained over decades if the
relationships are maintained and if the business works for both sides.  So
without being able to put a number on it, over time it's certainly possible
that this will go from the tens of millions inton the hundreds
millions."

One way to approach that level is to market Phelps -- not only in North
America- but also globally....something Octagon has already done with an
endorsement deal with Matsunichi, a Hong Kong-based electronics firm.

But with Phelps already endorsing 9 companies, marketing experts warn of
overexposure-- something that is known in marketing circles as diluting the
brand.
Phil de Picciotto, president of Octagon, saying :
"The way that Michael's partnerships are taken into the public--
the audiences for purchasing the services and products that Michael is
supporting -- are very different..."So we're very careful not only about
the quantity , but also of the delivery into the marketplace."

Of course, whether Michael Phelps -- now the face of the 2008 Olympics -- 
becomes the next Tiger Woods in the lucrative world of sports marketing, may
require a true Olympian effort.....because as big as Phelps is now, he's a
superstar in a sport that captures the world's attention only every four
years. 

Jon Decker, Reuters.