Muhammad Ali Sells Marketing Rights

[nickel]

Wed Apr 12, 5:10 AM ET

NEW YORK - Muhammad Ali, one of the world's most recognized people, has sold 80 percent of the marketing rights to his name and likeness to a firm for $50 million.

The 64-year-old former heavyweight champion, who suffers from Parkinson's disease, will retain a 20 percent interest in the business. The new venture will be operated by a company called G.O.A.T. LLC, an acronym for "The Greatest of All Time."

Ali and wife Lonnie are expected to work with CKX, Inc. to market his interests around the world. The deal includes trademarks owned by the boxing great.

"This relationship with CKX will help guarantee that, for generations to come, people of all nations will understand my beliefs and my purpose," Ali said in a statement issued Tuesday by the company. "I am honored to be able to partner with CKX as they continue to grow."

CKX has concentrated primarily on entertainment and holds the rights to the IDOLS television brand, which includes the show "American Idol." It also holds the rights to Elvis Presley's marketing, and has an interest in the operations of Graceland, Presley's Memphis, Tenn., home.
http://news.yahoo.com/s/ap/20060412/ap_en_ce/box_ali_naming_rights

[MJordanash]

$50 million at 64 years old...oh yea I'd be able to take that and be happy

[RIVERWIDOW]

It seems like a lot of money but I would be willing to bet his health insurance
is non-existent. Probably paying out of pocket. And with Parkinsons, it probably is a pretty big chunk of change. this will probably just make it a little more comfortable for him now and his wife when he is gone.

[kgsilvas]

He might as well cash in on his name while he can. Good for him!

[DarkFury]

So Ali's name and likeness is worth $50 million eh?

Surprisingly, I'd thought that it would be worth even more than that... Ali's likeness is a "globally recognized" symbol. That man gets MUCH respect around the world.

But yeah... $50 mill is nothing to sneeze at either... but I'm just a little surprised that it wasn't worth over $100 mill. (I wonder how much Micheal Jordan would sell his name and likeness for? :hmm: )

[InfiniteNothing]

Can one sell a likeness on eBay

[ialsohaveadream]

So Ali's name and likeness is worth $50 million eh?
No, 80% of his likeness and name is worth $50 mil.

[kimchicowboy]

my mom would tell me i worth gazillions. i would take $50 mill though.

[DaFunkyUnit]

would you buy a Foreman grill, or an Ali grill?

[molecularfire]

So Ali's name and likeness is worth $50 million eh?

Surprisingly, I'd thought that it would be worth even more than that... Ali's likeness is a "globally recognized" symbol. That man gets MUCH respect around the world.

But yeah... $50 mill is nothing to sneeze at either... but I'm just a little surprised that it wasn't worth over $100 mill. (I wonder how much Micheal Jordan would sell his name and likeness for? :hmm: )
:stupid: :stupid: :stupid:

I think he got severely underpaid. His likeness is worth much more than $62.5 mil.