Do you think Speedo is kicking themselves for offering $1 Million to Phelps?

Question

In 2004, Speedo offered 1 Million dollars to Michael Phelps if he broke Spitz's record of 7 Gold medals. In 2004, Speedo was able to insure this deal, so that if Phelps did pull it off, Speedo only had to pay out of it's own pocket about $300,000. Alas, Michael fell just short of his goal that year.

In 2008 Speedo again made the deal with Phelps. This time, however, there wasn't an insurance company willing to insure the deal. Go figure, with Michael's records, even the insurance companies knew that Phelps had a great chance of winning 8 gold medals.

Speedo will have to fork over $1 Million, completely from their own pocket to Michael Phelps. I can't help but wonder, if the powers that be at Speedo, are kicking themselves in the A**. What do you think?

Answer 1

Don't worry honey, since speedo is the number one swimming outfit in the world, I'm sure that they can pay phelps his money.

Answer 2

No

Answer 3

Absolutely not, technically no individual athlete is supposed to be sponsored in the olympics but I would bet that every time Phelps raced it was mentioned on nearly every channel that showed the races.

Answer 4

They're already paying at least that much in endorsement.

Answer 5

well they expected him to do it and he did so if they didn't want to have to pay him $1 mil they shouldn't have offered.

everyone knew he was gonna do it.

Answer 6

Doubtfully, since Michael is representing Speedo, millions of young swimmers will buy the suits that he wears, meaning the suit, meaning more money income for speedo.

A million is chump change for speedo this day in age.