Legendary golfer, Arnold Palmer died 13 months ago from complications
of heart problems at the age of 87.
Before his death, he had a massive
impact on the world of golf with his nickname “The King.” He won 62 PGA
Tour events, including four victories at the Masters, and was inducted
into the World Golf Hall of Fame in 1974.
Now according to Forbes, he still makes alot of money even in death.
Palmer earned $3.6 million in prize money during 52 years on the PGA
Tour and Champions Tour, but his business prowess pushed his career
earnings to $875 million, including endorsements, appearances, licensing
and course design fees (it was $1.4 billion adjusted for inflation).
Forbes says, ‘Palmer remains a hot commodity after his death with
estimated earnings of $40 million over the past 12 months for his
estate. Only Michael Jackson earned more among deceased
celebrities. There are still more than 400 stores selling Arnold
Palmer-branded apparel in Asia with plans to move into new markets like
Thailand and Vietnam. His estate has agreements with 39 licensees. “The
licensing business is one by its nature that can perpetuate far beyond
the person’s demise if set up correctly,” says Alastair Johnston,
Palmer’s longtime agent at IMG.
The Arnold Palmer line of beverages was launched in 2001 based on
Palmer’s preferred blend of ice tea and lemonade. AriZona Beverages now
produced 500 million cans of the line last year and with the drinks
focused on the 13-to-35-year-old consumer, 60% to 70% of drinkers
associate the Palmer name with the drink instead of the golfer’s
accomplishments on the course. Companies continue to use Palmer
in their marketing. MasterCard and Textron both renewed agreements with
Palmer’s estate over the past year. MasterCard rolled out ads this year
with images of a young Arnold Palmer and the slogan “Arnie Would.” The
relationship between Rolex and Palmer is one of the oldest in sports and
celebrates 50 years in 2017′.