Peter Lim nets Ronaldo's image rights
IN A sensational move, billionaire Peter Lim has acquired the image rights for football superstar Cristiano Ronaldo.
The six-year deal was announced yesterday afternoon.
This is the Singaporean's first foray into the sports marketing business.
The image rights for the three-time Fifa World Player of the Year (2008, 2013, 2014) will be managed by Mint Media, a Hong Kong-based company owned by Mr Lim.
The Singaporean said: "Ronaldo is not just a great soccer player, but he is also a very popular personality. I am confident that the Cristiano Ronaldo brand will continue to grow."
Ronaldo said: "Peter has a valuable and extensive business network, and I have always admired Peter's entrepreneurial savvy and his ability to grow businesses.
"He is also a good friend whom I have known for a while. I believe he will be a good partner and good value-add for my brand."
In a Facebook post yesterday, the football superstar also said "this is a very strategic move for me and my management team to take the Cristiano Ronaldo brand to the next level, especially in Asia". His post garnered over 344,000 likes by 9.30pm.
The 30-year-old Real Madrid forward is estimated by Forbes to earn US$27 million (S$36.4 million) annually from endorsements from brands like Nike, Herbalife, Clear Shampoo and Castrol.
Under the deal, Mint Media will own and administer all of the Portuguese's image rights except for those relating to his club. Mr Lim also said that the partnership with the superstar will provide further exposure and growth for the player's brand in Asia.