The Financial Impact on Professional Athletes After Breaking the Law

http://www.youtube.com/watch?v=1lu5ecegcHk&feature=related

Michael Vick and Plaxico Burress are two NFL stars of the 21^st century that gained attention for crimes that would land them behind bars.  Former Atlanta Falcon’s Quarter Back Michael Vick was indicted on several crimes in association with the abuse of animals.  If convicted on the animal fighting venture portion of the conspiracy charge, he would face up to three years in prison, and a $2500 fine.  On July 7, 2008, Vick sought Chapter 11 bankruptcy protection in U.S. Bankruptcy Court.  He served 23 months in prison, three years probation following release in November; the fine and prison time suspended upon condition of good behavior for 4 years after sentence. 

Much of what was supposed to be a crime-free night back on November 29, 2008 at Latin Quarter nightclub in New York became life changing for former wide receiver of the New York Giants, Plaxico Burress. 

 Three days after accidentally shooting himself in the leg at a New York City nightclub, Plaxico Burress surrendered himself to the NYC 17^th precinct authorities.  He faced two counts of gun possession charges, which in the state of New York could result to him serving a 3-7 year prison sentencing; he would later enter a “not guilty” plea. 

At his first arraignment, judge Felicia Mennin gave Burress 30 days to report back to the courts and released him on a $100,00 bond.  At the time of the incident, Burress was under a 5 year, $35 million contract with New York Giants Franchise; if indicted, he faced losing out on $7 million a year for the next 5 years.

Burress was sentenced to 2 years in the Oneida Correctional Facility in central New York.  This is a sentence that most spectators feel was far too harsh but others feel as though professional athletes have to live up to a standard of good conduct because they are viewed by the public as roll models.  Released on Monday June 6, 2011, 3 months early for good behavior, Burress faces a long road ahead, in order to get back to the league and back to financial stability.

Micheal Vick is currently in the NFL playing for the Philledephia Eagles and managed to sign a two-year endorsement deal with Unequal Technologies, a football pad company.  He also has his own reality series on the BET Network. 

References:

Farrar, Doug. (2011, June 6).  Burress Out of Prison, but What’s Next?  Retrieved June 10, 2011, from http://sports.yahoo.com/nfl/blog/shutdown_corner/post/Burress-out-of-prison-but-what-8217-s-next-?urn=nfl-wp2379

Keikis, Jack.  (2011, June 6).  Burress Leaves NYC Prison for Uncertain NFL Career.  Retrieved June 10, 2011, from http://www.heraldtribune.com/article/20110606/ARTICLE/110609714/-1/sports?Title=Burress-leaves-NY-prison-for-uncertain-NFL-career&tc=ar

Mihoces, Gary.  (2007, August, 8).  After the plea, What’s Next for Vick, Falcons?  Retrieved June 10, 2011, from http://www.usatoday.com/sports/football/nfl/falcons/2007-08-27-vick-hearing_N.htm

WSBTV.  (2007, July, 17).  Press Release on Vick’s Arrest.  Retrieved June 10, 2011, from http://www.wsbtv.com/news/13700336/detail.html

Music Meets the Indy 500: The Tweet That Informed Us All

Justin Timberlake is known for his all-around entertainment achievements.  He started his career as a singer then ventured off into acting, restaurant ownerships, a liquor brand and now a clothing line.

The singer's clothing line William Rast, which he started with longtime friend Tracy Ayala in 2006 is making headlines around the world.  Most recently, the brand has taken on a life of it’s own by becoming a sponsor for the car was driven by British racing veteran Dan Wheldon.

Timberlake sent out a Tweet, which stated:

"What a Memorial Day weekend! The William Rast car just won the Indy 500!!!!”

Dan Wheldon, an England native who last held an Indy 500 championship title back in 2005, recently won the championship title for the drag-style race over the Memorial Day Holiday.

Timberlake later wrote: "Congrats to Dan Wheldon, the WR racing team and everyone else who put in the hard work for this victory! Unreal!"

Within any instances of a company sponsoring an event for naming rights or for a broader visual presence, the sponsors pay for majority of the costs.

As per the 2010 Indy 500 race, depending upon the attendance and accessory awards; the 2010 payoff was $13.6 million, of which winner Dario Franchitti received a record $2.75 million for his win.  Dan Wheldon was awarded $2.56 Million for his win.

As most of the world already knows, social media is the most efficient way for companies to market their businesses.  Approximately 36 percent of small-business owners report using social networking sites like Facebook, Twitter and LinkedIn, compared with 19 percent last year.  Combined, Facebook and Twitter have over 600 million active users worldwide. 

The Indianapolis Motor Speedway is the world’s largest spectator sporting facility, with more than 250,000 permanent seats.  The driving distance for completion of the race is 500 miles; 200 laps around the asphalt-on-brick Indianapolis Motor Speedway track.

 http://www.youtube.com/watch?v=CqRduJHyvHM 

References:

Daily Mail Reporter. (2011, May 30). 'Unreal!'  Justin Timberlake left thrilled after the race car he sponsors wins the Indy 500. Retrieved May 2, 2011, from http://www.dailymail.co.uk/tvshowbiz/article-1392254/Justin-Timberlake-left-thrilled-race-car-sponsors-wins-Indy-5000.html.

Lopez, Kristina. (2011, May 29).  Justin Timberlake Tweets his sponsored race car's big win at the Indy 500. Retrieved May 2, 2011, from http://www.ontheredcarpet.com/Justin-Timberlake-Tweets-his-sponsored-race-cars-big-win-at-the-Indy-500/8159558.

Kiss Metrics. (n.d.).  Twitter Statistics. Retrieved May 2, 2011, from http://blog.kissmetrics.com/twitter-statistics/.

Sauer, Abe.  (n.d.).  Brand Channel. William Rast Racing Wins Indy 500, Secures Danica but Not URL.  Retrieved May 2, 2011, from http://www.brandchannel.com/home/post/2011/05/31/William-Rast-Is-Racing-Cars-With-Mixed-Results.aspx.


Tom.  (n.d.).  Black Box Social Media. Social Media Marketing for Small Businesses.  Retrieved May 2, 2011, from http://blackboxsocialmedia.com/social-media-marketing-statistics-for-small-businesses/