Canada’s Andre De Grasse celebrates after placing third at the Olympic men’s 100-meter on Aug. 14, 2016.Paul Gilham/Getty Images
When Canadian sprinter Andre De Grasse signed a sponsorship with Puma AG last December, he had not yet stepped on to the biggest stage in his sport, the Olympic track. But he was already breaking records: The multiyear, $11.25-million (U.S.) deal was the largest opening contract in the history of track and field, with bonuses that could push that amount much higher.
It was an unprecedented amount of money for unproven potential on the track. At the time, Mr. De Grasse was still far from a household name – even if he was already gaining buzz as the most promising Canadian runner in a generation. But Puma's investment now looks very smart.
The race to be the world's fastest man is hands down the highest-profile event in the Summer Olympics. On Sunday evening, three men earned their place on the podium, and two were Puma athletes: Usain Bolt, the world's greatest sprinter and the gold medalist, and Mr. De Grasse, who won bronze. (Justin Gatlin, the silver medalist who has served two doping suspensions in his career and was booed in the stadium, is a Nike athlete.) Mr. Bolt, who has exhibited a fraternal rapport with Mr. De Grasse on the track, has praised his Canadian competitor. "He runs just like me," Mr. Bolt said after the race.
For Puma, that means even though the company is not an official Olympic sponsor, two of the biggest stars of the Games – the current face of sprinting and, arguably, its future – are tied to its brand.
"For me, it was different, because I was already the number one sprinter in the world and everything was already in place before I got there," said Donovan Bailey, recalling his world-record-setting performance competing for Canada at the 1996 Atlanta Olympics. "If someone comes to the Games and they do well … and also they're young, their marketability is very high. Andre right now is in a great situation. He's 21 years old. He's got at least 10 years to be a professional track athlete. So he's definitely a great investment."
Sponsors are already buzzing about the athlete, said Brian Levine, managing director of Toronto-based Envision Sports & Entertainment Inc., who works with Mr. De Grasse in Canada. (His U.S. agent, Paul Doyle of Atlanta-based Doyle Management, negotiated the Puma deal.) He would not specify who has approached the management team so far. Mr. De Grasse's stock could rise further if he manages to win a medal in the 200-metre final on Thursday.
"We hope he will be the face of sprinting heading into Tokyo. … [Puma] invested in potential," Mr. Levine said. "All events are not created equally. … A bronze in the 100-metres is worth a gold in a less mainstream sport."
As the Games approached, other sponsors jumped on board as well. Procter & Gamble Co.'s Gillette signed him in June. That was not early enough to include Mr. De Grasse in the brand's "Perfect isn't Pretty" Games ad, but the brand promotes its connection with him on social media and will hold an event to celebrate him at the P&G "Family Home" in Rio on Sunday.
"If you had to pick a headline event, the world's fastest man is probably it," said Kurt Iverson, communications leader for Gillette North America. "… With all the things happening for two weeks, it's great to be part of such an iconic moment."
Because athletes are now expected to be accessible to their fans on social media platforms such as Twitter and Instagram, the nature of sponsorship has changed drastically in the past decade. Mr. De Grasse excels at this, using his online megaphone to thank BMW for loaning him a car; to promote P&G's "Thank you, mom" campaign by posting a photo with his mother, Beverley; and even to share a behind-the-scenes photo from a commercial shoot with Pizza Pizza Ltd. in Markham, Ont.
Medal performance is not the sole draw for marketers. Canadian Tire Corp. Ltd. sports retail brand Sport Chek, for example, says it looks for whether the athlete's complete story is compelling. For example, Sport Chek athlete Kaillie Humphries is a gold medalist in bobsled, but the brand was also thrilled when she came in last in a recent race: In January, she was part of the first all-female team to compete in the four-person bobsled at a World Cup event.
"We're signing athletes because they're a source of inspiration at the end of the day. You can be a source of inspiration even if you finish in fourth place," said Frederick Lecoq, Sport Chek chief marketing officer. "Sponsorship used to be, I'm going to put a sign in an arena or I'm going to sign an athlete to appear in my ad. That's the old days. Today you're looking for people to tell stories. … The fact that athletes are very active on social media is critical. You're able to reach their followers and connect emotionally with people who follow them. That's interesting. Not just putting them on a billboard."
That said, Mr. De Grasse is in consideration for Sport Chek – and probably plenty of other brands, Canadian and global, Mr. Lecoq said. The sprinter's presence, and his performance under pressure, gives him a lot of traction with potential sponsors.
"He deserves the greatest support there is," Mr. Bailey said. "He's fearless, he gets out there. And he's having fun, which is what I love."
Editor's note: The location of Doyle Management's head office has been corrected in the online version of this story.