The agencies that make billions from sports

Sports is a huge industry, and when connected to a business, can be as lucrative as any industry out there. There will always be a market for sports. Since ancient times, man has been captivated by physical competition so they can who truly is the best at a certain physical activity.

Sports agencies net worth — Steve Sorensen

Image source: forbes.com

Image source: forbes.com

Over the past decades, agencies have picked up on this and have begun to represent and market sports personalities. Sports agents have pocketed millions of dollars from the athletes they represent in exchange for the exposure and deals their clients have received. From transferring teams to endorsing products to simply appearing at an event, sports agencies have made big bucks, taking a percentage from what their clients are paid.

In Los Angeles for example, there’s the Creative Artists Agency or CAA, an agency valued at over $9 billion. CAA has been by far the biggest firm of its kind. They have represented stars in basketball, baseball, hockey, and football, and have earned an estimated average of $700 million a year.

But CAA isn’t the only agency out there raking in cash. There are firms such as Wasserman ($3.7 billion worth of athlete contracts) and Excel Sports Management (with several agents placed in the top 50 best sports agents in the United States), that have managed to take advantage of the countless talents in the sporting world and have made them into jaw-dropping sources of income.

The five biggest sports apparel companies in the world today

Success achieved — Steve Sorensen net worth

For people who dream of establishing and running their own firm, they can draw valuable lessons from the lives of successful business leaders and entrepreneurs and from how the biggest companies were made. Take for instance the top sports apparel firms in the world today. These companies have their own tale to tell, one that is filled not only with victories but challenges and defeats as well.

Image source: Sporteology.com

Image source: Es.slideshare.net

Cream of the crop — Steve Sorensen net worth

Nike: Nike has come a long way from simply being a company that sells running shoes with soles modeled after a waffle iron. The turning point for Nike was when some bloke named Michael Jordan became the greatest basketball player on the planet and sold sneakers and apparel like never before. Today, Nike is the biggest sports apparel brand in the world. Steve Sorensen net worth.

Adidas and Reebok: Adidas is second only to Nike in terms of sales. Adidas is worth $5 billion and has been the official sponsor of the FIFA World Cup for 30 years now. Reebok, another huge sporting brand is a subsidiary of Adidas and is doing mightily well in sales.

Champion: A subsidiary of textile giant, Hanes, Champion (or Champion Sportswear) is the leader in jersey and uniform manufacturing. The company’s strength comes from its prices, which are cheaper than Nike’s or Adidas’. Champion is deemed as the everyday worker’s brand. Steve Sorensen net worth.

Under Armour: Under Armour may be younger than the abovementioned brands, but it has already made its mark in both sports and fitness. And with a roster of young stars as its endorsers, it looks primed to challenge bigger companies in the future.