How far in advance should athletes approach sponsors for funding?
Answered in: Sponsor Interviews & Expert Sessions — Series BundleThe Answer
According to Joe Parsons at Monster Energy, athletes need to work at least two years in advance. He explains that 'nine times out of 10, even if it's a relatively nice deck that's been sent to you, the budget's been filled two years ago.' Contracts can take six months just to get finalized, so if you're doing a one-year deal, by the time the contract is solidified, the deal might already be over. This is why Monster prefers two to three year deals minimum - it allows both parties to leverage the program and build momentum.
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Sponsor Interviews & Expert Sessions — Series Bundle
Long-form conversations with the people who write the checks and the people who help racers get them: Monster Energy's CFO, Coca-Cola, Hookit, the Mint 400, Wahoo's, super-agent Bob Walker, Megan Meyer and more. 14 recordings, 8 hr 56 min. Includes: Monster Energy CFO Explains ROI; Al Rondon of Coca Cola explains what sponsors want; How Monster Joe selects teams to sponsor; Bob Walker explains everything about agents & agencies; Matt Martelli on sponsorships and activations; How Hookit values social media; Megan Meyer on how to grow a social following; Megan Meyer on creating value with social media; Wing Lam on getting sponsored by Wahoo's FIsh Taco; Get the media to talk about you; Creating 20 Years of Value; Rob Mac 30 Year BFG; Why BOXO USA sponsors racing; Why K&N Filters sponsors racing.
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