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Celebrities can earn cash from endorsement deals with well-known brands, but disputes could lead to the termination of the deal. From silly Pepsi to offensive social media posts, here are 10 stars who lost their deal.
The stars are in the pocket!
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Celebrities can earn cash from endorsement deals with well-known brands, but disputes could lead to the termination of the deal. From silly Pepsi to offensive social media posts, here are 10 stars who lost their deal.
Michael Phelps
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Michael Phelps is the most decorated Olympic athlete of all time, having won eight gold medals at the 2008 Beijing Olympics. Following his success, he became the face of series brand Kellogg’s, but lost his endorsement the following year after a photo appeared that appeared to show him doing drugs at a party.
Ronaldinho
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A can of Pepsi proved expensive for the Brazilian football legend. In 2012, Ronaldinho appeared at a press conference drinking Pepsi, even though he was an ambassador for sworn enemy Coca-Cola. The head of Coca-Cola called off the deal, and Ronaldinho ended up taking $760,000 off his pocket.
Wayne Rooney
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The former Manchester United footballer struck an endorsement deal with Coca-Cola during his prime as an athlete, but a series of negative headlines saw him dumped by the drinks giant in 2010.
Kate Moss
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The model lost lucrative contracts with brands including Chanel and Burberry after photos of her drug use came to light in 2005. Moss has managed to rebuild her career and reflected on how the scandal left her feeling “disgusted and angry” in an interview earlier this year.
tiger woods
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Tiger Woods was one of the greatest golfers of all time, but things fell apart in 2009 when he admitted infidelity to then-wife Erin Nordgren. As a result, he lost deals with the likes of Gillette, Gatorade, and Accenture, following a string of mistresses.
Kanye West
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2022 has been a tumultuous year for Kanye West, with his anti-Semitic comments on social media weighing on him financially. The backlash sparked by the rapper’s comments led to deals with Adidas, Gap and Balenciaga. The star – who changed her name to Ye in 2021 – lost her spot on the Forbes billionaires list due to the cancellation of the event.
Manny Pacquiao
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The legendary Filipino boxer’s relationship with Nike ended in 2016 over derogatory remarks against same-sex couples. “Nike strongly opposes discrimination of any kind and has long stood for the rights of the LGBT community,” the sportswear giant said in a statement.
magic johnson
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In 1991, the basketball icon shocked the world by retiring from support after contracting HIV. Companies like KFC and Converse distanced themselves from Johnson, who went on to forge a successful business career himself.
Lance Armstrong
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After his career was revealed in 2012, the infamous cyclist used performance-enhancing drugs during his seven-time Tour de France victories. The scandal cost Armstrong about $150 million as he loses deals with Nike, Oakley and Honey Stinger and is stripped of wins.
Lindsay Lohan
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Lindsay Lohan lost her endorsement deal with clothing brand Odaingerous in 2013 after she was sentenced to 90 days in prison for reckless driving in a car accident the previous year.
Originally Posted in celebretainment.coma part of TownNews Content Exchange.
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