http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10844490
Following a host of celebrity implosions, corporate sponsors are being offered insurance against their investments going bad with disgrace, non-appearance and lack of performance.
As the sponsors of shamed cyclist Lance Armstrong abandon him in droves, insurance brokerage Apex General is offering local sporting organisations and film-makers protection for the value of their sponsorship.Disgraced cyclist Lance Armstrong was dumped by sponsors Nike and Anheuser-Busch and others after the US Anti-Doping Agency banned him from the sport for life and ordered that his Tour de France titles be stripped.
The exact value of his deals with the two companies is not known, but Nike is the biggest spender on athlete endorsement deals in the world, with its annual report showing it has signed commitments for $3.2 billion worth of endorsement deals over the next five years
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