Companies are known for shelling out millions of dollars in marketing spend through endorsement deals with athletes and celebrities. Endorsement deals for athletes can sometimes make more than the earnings on the field or court, as highlighted by Michael Jordan making more from Nike alone than his NBA career salary.
Endorsement deals can pay off for companies when fans also support the company or product, something that can be helped if the athlete is seen as a customer.
What Happened: NFL legend Tom Brady announced his retirement from the league for a second time during the 2023 NFL offseason.
After 23 seasons in the NFL, Brady is now turning to careers like sports broadcasting and team ownership. Brady has been active in acquiring an ownership interest in a pickleball franchise, a soccer team and potentially the NFL’s Las Vegas Raiders.
Brady also continues to be a spokesperson for several companies, including Hertz Global Holdings HTZ.
In 2021, Brady signed a deal with Hertz to help promote the company’s push into electric vehicle rentals. A marketing campaign called “Hertz, Let’s Go!” saw Brady renting, recharging and driving an electric vehicle at a Hertz location.
On Monday it was revealed that Brady doesn’t only endorse the car rental services of Hertz, he is also a customer.
“Hey Tom Brady, I think you left your receipt in the center console of your rental in the Hamptons…Well, I guess you really do use Hertz,” sports reporter Darren Rovell tweeted.
Rovell shared a picture of the receipt that had Brady’s name and listed him as a VIP Platinum member. Brady rented a 2023 Suburban, a vehicle made by General Motors GM.
The receipt showed a cost of $402.35 per day with unlimited miles and a total cost of $485.33 with taxes.
“I tried to tell you guys I actually use Hertz. What’s the ad value of this receipt Darren?” Brady tweeted.
Rovell, who often shares ad values of companies who see their logos and brands show up during viral events, said the value in this case might be priceless.
“That you USE what you get paid to use? Everything. Influencers have screwed this all up! Well done,” Rovell tweeted.
Related Link: 5 Things You May Not Know About Tom Brady
Why It’s Important: Hertz may be able to use this moment as future marketing with Brady a verified customer according to the receipt and his post.
The only thing that could have made the event better would have been Brady renting an electric vehicle, given the car rental company’s push to grow its base of electric vehicles.
Hertz has signed deals with General Motors and with Tesla Inc TSLA for future deliveries of EVs to boost its fleet for customers.
Brady previously said his favorite vehicle was a Tesla car, which coincided with his partnership with Hertz.
“I’ve had a Tesla for about four years. And again, I think it’s kind of the direction the world is heading,” Brady previously said of his electric vehicle.
Without more details, it’s unknown if Brady needed the extra space of the Suburban or if the rental location had electric vehicles available.
“There is a true connection to ‘Let’s Go’ as it relates to travel and the desire to have a seamless experience with Hertz always provides. Being an EV driver, I also love that more people across the country will have the opportunity to experience Hertz’s EV rental fleet,” Brady said earlier this year.
Brady using Hertz and the virality of his tweet could also help him when it comes time for a contract renewal. The NFL legend is signed through 2024 with Hertz.
HTZ Price Action: Hertz shares traded at $17.10 versus a 52-week trading range of $14.49 to $20.48. Shares of the car rental company are up 14% year-to-date in 2023.
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