Wow! Gabby's $100 Million Cereal Deal
Petite. Powerful. And now prosperous as well. Olympic gold medal gymnast Gabby Douglas is on top of the world. She's also on a box of cereal after inking the first of what may be more than $90 million worth of deals. Following Douglas's win of a gold medal at the London 2012 Olympics in the women's individual All-around competition, she joined a league of other Olympians as part of the cereal box tradition.
But forget Wheaties, the brand that has long held the cereal-box monopoly on Olympic-star sponsorships. Kellogg’s is the company that announced yesterday it had tapped Douglas — the first African-American to win Olympic gold in the individual all-around gymnastics competition — to be featured on special-edition Corn Flakes boxes hitting store shelves this fall.
Kellogg’s, an official sponsor of the US Olympic Committee and USA Gymnastics, was able to sign Gabby up for Corn Flakes before she could be courted by Wheaties maker General Mills.
"I'm so proud to be part of this gold-medal winning team and I'm thrilled I was able to bring home the all-around gold for Team USA as well," said Douglas. "The support from fans around the country has been amazing, and it's a huge honor to see ourselves on a cereal box that our fans can all own and enjoy!"
In 2008, Michael Phelps got his own box of Corn Flakes after capturing eight swimming gold medals in Beijing.
The cereal company will not only bring your favorite gymnast to the breakfast table, they are the title sponsor of the 2012 Kellogg's Tour of Gymnastics Champions, a 40-city national tour featuring Team USA's top performing gymnasts which will kick off in San Jose, California on September 8, 2012.
Front and center on that tour will be Douglas. NBC said that the gold medalist, nicknamed the "Flying Squirrel," was the most-clicked athlete on its Olympics website. More than 18 million people clicked on highlights of Douglas -- that's roughly 1½ times more than the second-most viewed athlete, Michael Phelps.
Douglas is now truly a golden girl. Industry analysts suggest this is just a hint of what's to come. According to TMZ, a few months ago her mother filed for bankruptcy. Whether or not that's true, it's well known that Natalie Hawkin worked multiple jobs and sacrificed plenty to support her daughter's dreams. Looks like it will all pay off!
Kudos to Gabby and all who have supported her a long the way - especially her mom!
Update: Exact details of Douglas' Kelloggs detail are unknown but what is clear is that her gold medal will be worth millions in endorsment deals. CNBC’s Maria Bartiromo said of Douglas, “There’s also that saying, ‘Million dollar smile.’ In Gabby’s case, she might have the first ‘Hundred million smile.’” America is "thrilled for her and Madison Avenue is thrilled to be making her offers that will make her a very wealthy young woman.”