Berlin without Xiang
09.04.2009 World
As bloomberg.com informs, endorsement value of Liu Xiang has fallen 87 percent after he pulled out of the Beijing Olympics with an Achilles tendon injury.
The average value of his endorsement contract reached a peak of 15 million Yuan in 2008 before the Games, but now has fallen to about 2 million Yuan. However, the decline in value may attract other new sponsors who previously hadn‘t been able to afford the charges.
The Chinese Athletic Administrative Center started negotiations this month on renewing commercial contracts for China‘s first male Olympic track gold medalist, the China Brand Research Institute said.
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