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Breaking barriers Venus signs richest endorsement deal with Reebok
Updated: Thursday December 21, 2000 8:47 PM
NEW YORK (Reuters) -- Venus Williams, who ruled the tennis world in 2000, capped off a season of triumphs with a reported $40 million Reebok endorsement deal on Thursday, which the sporting apparel company said is the richest ever for a woman in sports. "This is a big moment in my life," said the 20-year-old Williams, who last year won the Wimbledon, U.S. Open and Sydney Olympics titles during a brilliant winning streak that stretched from summer into autumn. "It's been a journey," Williams, who grew up in the run-down Compton neighborhood outside Los Angeles and made a rapid rise to tennis stardom, said at a news conference. "For women of color, for my family. It's one dream coming true after another." Specific terms of the deal were not announced, but Reebok's chief marketing officer, Angel Martinez, told the news conference that he would not deny reports that valued the deal at $40 million over five years. Williams also has endorsement deals with Avon, Wilson rackets and Wilsons Leather. By comparison, the king of sports endorsements among male athletes -- golfer Tiger Woods -- is expected to rake in over $50 million a year from his various deals once his new Nike contract kicks in next August. Williams, who is studying fashion design and has endorsed Reebok products on the court and in television and print ads since 1995, will also co-design the Reebok collections scheduled to debut in the 2002 tennis season. Besides designing, Williams recently took a turn at modeling in a cover layout with her sister, Serena, for Elle Magazine. The deal signed by Williams was lauded as a breakthrough for women in sports, particularly black women. "It's a great day for you, but it is also an unbelievably, positively uplifting day for sports, especially women's sports," said former tennis champion Billie Jean King in a telephone hook-up from Arizona. "It's just fantastic the recognition for Venus and how versatile she is. She is fun to watch. Just her being on the court, it's a great pleasure, said King, who was captain of the U.S. team at the Sydney Olympics, where Williams also claimed the gold medal in doubles with her younger sister, Serena. "I know that that Althea Gibson is particularly happy today and Arthur Ashe is, in spirit," King said of the last two African Americans to win the coveted Wimbledon title. Donna Lopiano, executive director of the Women's Sports Foundation, also attended the news conference. "Venus is not only a symbol of skill and style but a woman of substance who stands tall," said Lopiano. Williams said she hoped to improve on her ranking of third in the world, which suffered because she missed many early-season tournaments because of injury. "Of course, I want to be No. 1," she said of the position now held by Switzerland's Martina Hingis. "But being happy and healthy is the most important thing." Williams said she did not think her tennis rival, best friend and housemate Serena would be jealous over the new sponsorship deal. "But I guess I'll be doing all the shopping," she said with a beaming smile.
Copyright 2003 Reuters Limited. All rights reserved.
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