German driver Nico Rosberg has climbed the rostrum to obtain a primary Components 1 world championship, and his earnings are about to get a leg-up too.
In addition to pocketing sizeable bonuses from his F1 staff Mercedes, he’s additionally poised to take benefit on the sponsor and endorsements entrance.
“Successful the world championship will assist catapult him into a brand new earnings bracket,” says sports activities sponsorship knowledgeable Nigel Currie.
“Once you win the world championship your industrial bargaining energy soars in contrast with being simply one other driver.”
To date the 31-year-old Rosberg has been low-key, not solely relating to sponsorship offers, however as a possible sporting “celeb”.
The truth is, so single-minded has he been in securing that elusive maiden title (he has been runner-up for the previous two years), that F1 supremo Bernie Ecclestone stated lately “there is nothing to write about him”.
From a racing perspective it has been a rollercoaster season, with Rosberg strictly specializing in taking one race at a time, an strategy which is now set to pay monetary, in addition to sporting, dividends.
This summer time Rosberg was listed 98th in Forbes’ index of the world’s 100 richest sports activities folks, with estimated whole annual earnings of $21m (£14.5m at June change charges).
However solely $1m of these earnings got here from endorsements, in contrast with the $4m his Mercedes teammate and fierce rival Lewis Hamilton comprised of his sponsorship offers.
Mr Currie says that like boxing, nearly all of earnings for an F1 driver – even for a a number of champion like Hamilton, Sebastian Vettel or Fernando Alonso – “come on the sporting enviornment”.
“Pay for the highest drivers is excellent in the event you carry out and win, and Rosberg is without doubt one of the highest paid drivers,” he says.
The truth is Rosberg signed a brand new two-year take care of Mercedes this summer time, worth a reported £18m a year.
The German can be in line for bonuses for his title win, however it’s the sponsorship aspect of issues that provides essentially the most development potential, in an space the place he has not been overly lively.
One uncommon partnership deal that Rosberg did have, from 2010 to 2015, was with designer watch and jewelry model Thomas Sabo, however the driver’s Monaco-based administration staff says this affiliation is not lively.
In line with his managers, Rosberg has chosen to date to deal with some additional sponsorship participation with Mercedes’ personal listing of brand name companions.
This assortment of 23 firms contains the likes of Puma, Bose, Hugo Boss, Tata Communications, Pirelli, Epson and UBS.
Tumi, a US producer of luxurious journey equipment, and which has its identify on the Mercedes staff automobiles and its members’ race fits, has signed Rosberg as one in all two ambassadors for the model.
“What F1 groups do with the drivers, till they develop into so dominant that they’ll write their very own cheques and signal their very own offers, is that they tie them into the staff sponsors,” says Mr Currie.
“That’s the reason a Components 1 championship is so essential. It’s like successful one of many 4 golf majors, or a Grand Slam match in tennis. You then have that in your CV, and may begin negotiating your phrases.”
And the extra success you could have, the extra you possibly can dictate your phrases and do your individual offers, he says.
“It’s no coincidence that these F1 drivers which can be well-rewarded when it comes to endorsements are additionally ones who’re a number of F1 champions.”
Who’s Nico Rosberg?
- Born on 27 June 1985 in Wiesbaden, Germany, and raised in Monaco
- Son of Finnish former F1 world champion Keke Rosberg
- Married to Vivian Sibold, with one daughter
- Has 1.6m followers on Twitter and a couple of.3m likes on Fb
- Pursuits embody triathlon, soccer, chess, pictures, backgammon
Ian Phillips is a former director of the Jordan, Spyker and Power India F1 groups. He says Rosberg’s low industrial profile thus far will not be unintended.
“He’s very handsomely paid by Mercedes, and in the event you tackle additional industrial actions it takes up your treasured time,” says Mr Phillips. “I’m a agency believer that you’re higher to focus on your foremost job, in what’s a really brief profession.
“If you’re profitable and win championships, then the very best occasions for large industrial earnings are literally for while you cease driving,” says Mr Phillips, who’s now a motorsport administration advisor.
“I do know that’s not the strategy all drivers take, however Rosberg is well-managed, and this can have been a deliberate strategy, one which I feel has been eminently smart.”
Mr Phillips says that sarcastically Rosberg’s father Keke, F1 world champion in 1982, was “one of many first industrial people” within the sport.
Now Rosberg Jr has the potential to emulate his father and strike some main offers.
Mr Currie says: “He could have been ready for getting the best offers till after successful the championship. All the things else could have been on maintain.
“However now he and his administration can be exploring their choices. The nice factor for world champions in F1 is that they’ll deal with the very high-end luxurious market.
“Issues akin to the most costly watches on this planet, doubtlessly his personal vogue vary, male fragrances. Automobile offers can be carried out, if they’re carried out accurately.
“He will not be doing all of your normal, on a regular basis, stuff. Will probably be aspirational, like F1. I feel he can be poised now to make two or three high-end, actually large offers.”