Andreescu set to make millions in endorsements after U.S. Open victory
Tennis phenom Bianca Andreescu won US$3.85 million when she beat Serena Williams in the women’s final at the U.S. Open, but it’s likely that paycheque is only the beginning of million-dollar payouts from future sponsorship deals.
Being the first Canadian Grand Slam singles champion — at age 19, no less — is notable, but the real story is Andreescu’s meteoric rise, said Cary Kaplan, president of marketing firm Cosmos Sports & Entertainment.
“A year ago, she didn’t exist as a tennis player of any consequence,” he said.
The week of Sept. 10, 2018, Andreescu ranked 210th in the world for singles tennis, according to The Women’s Tennis Association. This week, she’s fifth.
“A month ago, if someone was calling and offering her a million dollars it would have been so important,” Kaplan said.
In fact, earlier this year, Andreescu signed a sponsorship deal worth about $50,000 with Copper Branch, a plant-based eatery chain with more than 50 locations mostly across Ontario and Quebec.
But with her U.S. Open victory in hand, her financial situation allows her to take her time and determine what brands the young star wants to associate herself with.
Andrew Infantino, marketing director at Copper Branch, says the chain signed her after searching for an up-and-coming athlete from Ontario and believed a tennis player would be a good fit considering their season would be coming up in the summer.
The Copper Branch contract ends in early 2020, but the eatery hopes to extend it or sign a new one.
Until it runs out, Copper Branch plans to continue using her image on menu boards and its website, but also wants to ramp up the connection between Andreescu and the chain.
It may place lifesize cutouts of the tennis star in its stores and may add an Andreescu-themed menu item, Infantino said.
Kaplan — who is not affiliated with Andreescu — said the Mississauga, Ont., teen seems to embody the Canadian identity well and that’s one of the things fans and brands likely love about her.
Some noted her quintessentially Canadian response to winning the final match when Andreescu apologized to the stadium crowd for beating Williams.
Kaplan said she will likely consider what brands best represent her image, adding Tim Hortons and Canadian Tire spring to mind as natural fits. Canada’s major grocers and even some of the country’s banks may vie for a piece of Andreescu, he said.
In some categories, Andreescu won’t have the option to choose a homegrown brand, he said, and will affiliate with an international brand.
Still, Kaplan hopes she maintains relationships with her initial sponsors following her rise to fame and grandfathers in companies like Copper Branch, which endorsed her at the beginning.
Copper Branch, naturally, echoed that sentiment.
Infantino is sure Andreescu will ask for more money at the renegotiating table and he’s not certain if the company will be able to afford her going forward.
“But we’re also hoping that since we were one of the first, potentially we could get maybe an offer that’s similar to what we have,” he said.
“But I guess that we’ll have to see.”
The Canadian Press. All rights reserved.
State Street Global Advisors Announces Impact of Receiving Payme
BOSTON –(BUSINESS WIRE) The SPDR® Exchange Traded Funds (ETFs) listed in the table below, announced today that each Fund received a payment as an authorized claimant from a class action settlement related to General Motors Company (NYSE: GM ). The total payment to be received by each Fund is listed below. When the Funds calculate their net asset value (“NAV”) per share on Tuesday, September 10, 2019, it is estimated that the Fund’s NAV will be impacted by the amount stated below based on shares outstanding as of September 6, 2019. Fund Payment
Outstanding as of
September 6, 2019 Per
Impact SPDR S&P 500 ETF (SPY) $6,757,302 900,032,116 $0.0075 The Consumer Discretionary Select Sector SPDR Fund (XLY) $2,048,140 116,103,252 $0.0176 About SPDR Exchange Traded Funds SPDR ETFs are a comprehensive family spanning an array of international and domestic asset classes. SPDR ETFs are managed by SSGA Funds Management, Inc., a registered investment adviser and wholly owned subsidiary of State Street Corporation. The funds provide investors with the flexibility to select investments that are precisely aligned to their investment strategy. Recognized as an industry pioneer, State Street created the first US listed ETF in 1993 (SPDR S&P 500® – Ticker SPY) and has remained on the forefront of responsible innovation, as evidenced by the introduction of many ground-breaking products, including first-to-market launches with gold, international real estate, international fixed income, and sector ETFs. For more information, visit www.spdrs.com . About State Street Global Advisors For four decades, State Street Global Advisors has served the world’s governments, institutions and financial advisors. With a rigorous, risk-aware approach built on research, analysis and market-tested experience, we build from a breadth of active and index strategies to create cost-effective solutions. As stewards, we help portfolio companies see that what is fair for people and sustainable for the planet can deliver long-term performance. And, as pioneers in index, ETF, and ESG investing, we are always inventing new ways to invest. As a result, we have become the world’s third largest asset manager with nearly US $2.90 trillion* under our care. * This figure is presented as of June 30, 2019 and includes approximately $36 billion of assets with respect to SPDR products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Global Advisors are affiliated. Important Risk Information: All ETFs are subject to risk, including possible loss of principal. ETFs trade like stocks, are subject to investment risk, fluctuate in market value and may trade at prices above or below the ETFs net asset value. Although ETFs may be bought and sold on the exchange through any brokerage account, ETFs are not individually redeemable from the Fund. Investors may acquire ETFs and tender them for redemption through the Fund in Creation Unit Aggregations only. SPY and XLY are offered to US Investors only. Distributor: State Street Global Advisors Funds Distributors, LLC, member FINRA, SIPC, an indirect wholly owned subsidiary of State Street Corporation. References to State Street may include State Street Corporation and its affiliates. Certain State Street affiliates provide services and receive fees from the SPDR ETFs. ALPS Distributors, Inc., member FINRA, is the distributor for DIA, MDY and SPY, all unit investment trusts. ALPS Portfolio Solutions Distributor, Inc., member FINRA, is the distributor for Select Sector SPDRs. ALPS Distributors, Inc. and ALPS Portfolio Solutions Distributor, Inc. are not affiliated with State Street Global Advisors Funds Distributors, LLC. Before investing, consider the funds’ investment objectives, risks, charges and expenses. To obtain a prospectus or summary prospectus which contains this and other information, call 1-866-787-2257 or visit www.spdrs.com . Read it carefully. Not FDIC Insured • No Bank Guarantee • May Lose Value Intellectual Property Information: Standard & Poor’s®, S&P® and SPDR® are registered trademarks of Standard & Poor’s Financial Services LLC (S&P); Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC (Dow Jones); and these trademarks have been licensed for use by S&P Dow Jones Indices LLC (SPDJI) and sublicensed for certain purposes by State Street Corporation. State Street Corporation’s financial products are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates and third party licensors and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability in relation thereto, including for any errors, omissions, or interruptions of any index. State Street Global Advisors, One Iron Street, Boston, MA 02110 © 2019 State Street Corporation – All Rights Reserved Expiration Date: 9/30/2020 2722179.1.1.AM.RTL SPD001992 //www.businesswire.com/news/home/20190909005970/en/ Olivia Offner