In order to cash in on the commercial appeal of Manny Pacquiao as an endorser for various products and services, Top Rank Promotions has decided to engage the services of a capable and experienced marketing professional to handle Pacquiao's endorsements and maximize his earning power.
Lucia McKelvey, a seasoned marketing professional who has handled Tiger Woods' endorsements during her stint at IMG, is the new Vice-President for business development and marketing of Top Rank.
Top Rank has admitted it has little experience in handling commercial endorsements for the company's high-profile fighters.
According to the 32-year-old lady marketing executive, Manny Pacquiao has an earning potential of over $50 million from commercial endorsements.
“When you look at Manny’s world, there was no continuity,” McKelvey said. “You name it, they were coming to him and saying, ‘Sign this contract, sign this contract.’ That made no sense.”
"In the Philippines, he endorsed McDonald’s and San Miguel beer, among other major partners. Yet while his Davie-Brown Index rating, which measures a celebrity’s influence on consumers, ranks above all current boxers, McKelvey said the deals he had here and the way they were structured were comparable to a lesser-known L.P.G.A. golfer", the report said.
Apparently, Pacquiao's potential as a top notch commercial endorser has been poorly handled by Team Pacquiao.
Michael Koncz, Pacquiao's Canadian adviser has acknowledged his team's failure to tap Pacquiao's revenue generating endorsements despite the boxer's soaring popularity.
"Arum and his stepson, Todd DuBoef, the president of Top Rank, said they needed someone who spoke the language of potential sponsors. Someone with contacts at corporations. Someone who could leverage Pacquiao’s popularity to sell companies on their sport beyond one fighter," the report added.
“I’m guilty, Bob’s guilty, all of us in boxing are guilty to listening to the rhetoric that corporate America won’t associate itself in boxing,” DuBoef said. “They will, if it’s done right.”
Pacquiao, who has made several endorsements for Nike, will soon be signing with computer giant Hewlett-Packard (HP) and State Street Produce, a San Antonio-based fresh food supplier to the restaurant establishments across the US.
The Filipino boxing superstar is set to face Shane Mosley Saturday night at the MGM Grand Garden Arena in Las Vegas, Nevada.