2012 Summer Olympic Games

There is big money on the line and not all of the gambling on sports is illegal. Did you realize that the worldwide market for athletic shoes, clothing and accessories is a whopping $315 billion? With a market of that size being fought over, opportunities like the Olympic games represent huge marketing events.

Get paid to train and compete in the sport you love? Big money can be had by elite athletes, not to mention lots of free running shoes. Sponsorship contracts vary widely from athlete to athlete and event to event. Runners in the marquee sprint and distance races – the 100-, 200-, 400-, 1,500-meter and marathon typically score the highest payouts. Not surprising given the higher visibility of the events in which they compete.

Most of the track and field athletes strike deals that are much less lucrative than what an NBA player can receive. A track runner competing at the highest levels and in a popular event might be fortunate to receive a base salary in the low to middle six figures. Plus their contract many times includes performance bonuses, winning the race provides extra visibility to the sponsoring brand plus who doesn't want to be associated with a winner? Athletes that compete in lower profile events may only get some free equipment and modest performance bonuses.

New Balance, without a stable of athletes deep enough to guarantee medalists at major competitions, seeks runners with interesting stories to tell. It gambles on athletes who might need a second chance or additional time to develop.

Barringer Simpson, however, was an exception. New Balance competed against Nike, Saucony, Brooks, and Under Armour for her endorsement. According to the Boston Globe:

The Colorado-based runner turned down a more lucrative offer from Nike because, in part, she liked how “when you wear the New Balance logo, you become part of the New Balance family.” She says she was wowed and touched by a visit to the Lawrence facility, the only full-fledged factory on her recruiting tour. There, all employees wore T-shirts with her image emblazoned on the front and the words “Making shoes for Jenny B.” on the back.

While Nike is certainly an American company, Boston based New Balance is the only athletic shoe company to still make shoes here in the United States. The men's running shoe pictured above sells for about $260 and is made in the right here in the U.S. Approximately 25% of the New Balance shoes sold in America are made in America.