Should a new sponsor focus on athlete endorsements or event sponsorships?

The answer is both - you need a balance. You need a spokesman/athlete on the track showing your product works and performs, but you also need presence at live events with vendor space where your sales people can answer technical questions and connect with fans who are potential customers. Putting all your eggs in one basket with just an athlete can limit your reach. The ideal approach follows a four-pillar framework: athlete, brand, media/activations, and target audience - if any leg is missing, the whole strategy falls over.