Phelps wants to emulate another Michael: Jordan
Michael Phelps set a lofty goal for himself in Beijing and delivered with an Olympic-record eight gold medals.
Now back in the U.S., Phelps has a new target: to increase swimming's popularity in his home country and around the world.
Phelps is looking to the example set by Michael Jordan, another former gold-medal winner and five-time National Basketball Association Most Valuable Player, as he sets his sights on his latest mission.
"What he did for the sport of basketball, hopefully I can learn from him a little bit and take what he did and put it into swimming," Phelps said in an interview with Bloomberg Radio's "On the Ball" program, airing Sept. 6.
Phelps said he's always looked up to Jordan and made it a point to watch his games because of the way he changed basketball while a member of the Chicago Bulls.
Jordan became the most popular athlete in the U.S., helping the Bulls to six NBA championships in the 1990s. He was also one of the most marketed, hawking goods for Nike Inc., Coca-Cola Co., McDonald's Corp. and Hanesbrands Inc.
Five years removed from his playing career, Jordan still has clout, recently ranking 18th on Forbes' list of the Top 100 Celebrities. The magazine said Jordan makes $45 million a year, much of that in royalties from the $800 million a year in sales for Nike's Jordan Brand.
While Phelps has a long way to go before matching Jordan in the endorsement realm, he's already doing his part to increase interest in his own sport.
The 23-year-old Phelps made his first move today, announcing that he will put part of the $1 million bonus he earned from sponsor Speedo swimwear into a foundation aimed at encouraging the growth of swimming.
Phelps, who helped NBC Universal's broadcasts of the Beijing Games draw a total of 214 million people in the U.S., earned the bonus from his longtime sponsor after breaking Mark Spitz's record of seven gold medals at a single Olympics.
"I'm just starting a foundation and I'm trying to really grow the sport of swimming and take it to a new level," said Phelps, whose list of endorsements includes AT&T Inc. and Visa Inc.
He won't have to wait long to follow in one of Jordan's footsteps. Phelps is scheduled to host NBC's "Saturday Night Live" on Sept. 13, a role Jordan filled in 1991.
"It's going to be a little different than what I'm used to," Phelps said. "It's going to be fun, I watched it growing up and still watch it from time to time."