Messi Mania: From Pitch to Profits
On February 9th, Chinese authorities canceled two football matches Argentina were set to play in China. This was the latest escalation in a diplomatic crisis caused by none other than Lionel Messi. The superstar missed a friendly between Inter Miami and the Hong Kong 11 due to an injury, leading to an outcry among fans and a statement from a lawmaker declaring, “The Hong Kong people hate Messi” and “he should never be allowed to return to Hong Kong.”
Such is the power of Messi Mania. Messi’s presence sells tickets; his absence causes riots. Since joining Inter Miami, the club’s revenue has tripled, Apple has added 2 million subscribers to its MLS season pass, and Adidas has sold millions of pink shirts. But what about Messi himself? While his salary at Inter Miami is half of what he earned at PSG, Messi has a plan that could make him a billionaire and possibly the richest athlete of all time.
Learning from Legends: The Path to Billionaire Status
Lionel Messi’s strategy to become a billionaire is inspired by other superstar athletes who have transitioned into successful business figures. Michael Jordan, for example, has earned 97 percent of his $3 billion net worth off the court, through ventures like the Jordan Brand and his ownership stake in the Charlotte Hornets. Similarly, LeBron James, still active in the NBA, has a billion-dollar net worth thanks to his production company SpringHill Entertainment and investments in Fenway Sports Group.
Serena Williams has also made significant strides, investing in the Miami Dolphins and UFC and running a venture fund that has Forbes valuing her net worth at $290 million and climbing.
The New Era of Athlete Entrepreneurs
Today’s athletes have more control and opportunities than ever before, thanks to three key changes:
- Direct Fan Communication: Social media allows athletes to communicate with their fans directly and on a global scale. This has revolutionized how endorsements and sponsorships work, as athletes can now promote products to millions of followers with a single post.
- Higher Salaries and Early Wealth: Modern athletes earn significantly more money earlier in their careers, giving them the financial freedom to invest in various ventures. For instance, Steph Curry earns over $50 million per season.
- Ease of Starting Businesses: It is now cheaper and easier to start a company. Platforms like Shopify and YouTube provide tools for creating businesses and content with minimal investment.
Messi’s Business Ventures: A Mixed Bag
Messi’s net worth is estimated at around $400 million, with career earnings projected to hit $1.6 billion by 2025. At Inter Miami, Messi earns over $20 million per year, complemented by lucrative deals with Apple and Adidas. Despite these earnings, his forays into business have had mixed results.
The Messi Store
The Messi Store, a partnership with MGO Global, has struggled to gain traction. With annual sales of only $100,000 before Messi’s move to MLS, the venture has yet to capitalize on his global fame effectively.
Hotels and Theme Parks
Messi owns hotels in Spain and Andorra, which have been more successful but still seem like an odd choice for leveraging his brand. His ambitious Messi Experience Park in China, expected to attract 4 million visitors annually, has been delayed and over budget.
A New Beginning: PlayTime
Messi’s move to the U.S. has opened new opportunities. In 2022, he co-founded PlayTime, a holding company for managing his investments, with tech investor Razmig Hovaghimian. PlayTime will manage an initial $200 million, focusing on sports, media, and technology.
Key Investments
- Matchday: A virtual collectible football card game.
- Momento: A platform for sports memorabilia, which has already sold Messi’s World Cup shirts for $7.8 million.
- BallerTV: A streaming platform for youth sports.
Strategic Moves for Future Success
Messi’s choice to join Inter Miami, despite a significantly lower salary compared to PSG or offers from Saudi Arabia, indicates a strategic move. He aims to build and monetize an audience in the world’s largest market, leveraging new media and technology to his advantage.
Conclusion: Messi the Businessman
While Lionel Messi’s football career is in its twilight, his journey as a businessman is just beginning. By investing wisely and leveraging his brand, Messi has the potential to follow in the footsteps of Michael Jordan and LeBron James. If successful, he could not only become the richest athlete ever but also join the ranks of the world’s wealthiest individuals.
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