The Power of Sports as a Marketing ToolBy
Sir Thomas Lipton was one of the first CEOs to harness the power of sports as a self-promotional tool. (Would the death of George Steinbrenner, head of American Shipbuilding, make front-page news?) Here are others who have used the spotlight to boost their own brand.
After selling his Web radio company to Yahoo! (YHOO), Cuban bought the Dallas Mavericks in 2000. Now he soaks up attention on the sidelines at every game.
Having amassed a fortune during Soviet privatization, he became famous in Europe for his 2003 purchase of the Chelsea Football Club for $233 million.
The TV magnate bought the then-sorry Atlanta Braves in 1976 to provide programming for TBS. Liberty Media (LINTA) owns the team now, but they play at Turner Field.