ESP and FraserNet join forces to establish FAIR
(Tuesday, August 21, 2007, Atlanta, GA)
The sports industry generates approximately $235 billion in revenue each year. Each year, approximately $24 billion in advertising revenue; $847 million in endorsement revenue; $2.2 billion in multimedia revenue; $16 billion in travel revenue and $15.25 billion in professional fees (event management, financial, legal, marketing and consulting services and representation fees) is generated by the collective effort of athletes of color. Athletes of color, who dominate at the player level of the 3 major sports, earn approximately 1% of the sports industry pie. Professionals of color earn even less.
To address the trade imbalance and develop programs and strategies to create a more level playing field, ESP has joined forces with George Fraser and the FraserNet family to establish FAIR (FraserNet's Athlete Initiative for Reform). The vision of FAIR is to raise the consciousness of athletes of color and connect them with service firms and professionals of color. The mission of FAIR is to marshall the assets and resources of service firms and professionals of color through education, advocacy, training/placement and resource management to increase the participation of service firms and professionals of color in the sports business industry.
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Imagine an America where athletes of color recycled their millions into developing homes and businesses in our community. Imagine an America where our professional athletes utilized the services of lawyers, sports agents, financial advisors, bankers and accountants of color. Imagine a community where our professional athletes were tithing, building first-class educational and sports facilities on Black college campuses. Imagine a community where our professional athletes became lifetime members of organizations like the NAACP, the Urban League and SCLC. Imagine thousands of athletes of color who make a profit and make a difference….who do well while doing good.
If your imagination is as vivid as ours, please join FAIR and help us connect with the next generation of professional athletes, their families and other people in their circle of influence who share in the vision. To learn more about the FAIR Project and/or to join the effort, contact firstname.lastname@example.org.
Left to right: Networking guru George Fraser, award-winning actor Courtney Vance, and ESP President Everett Glenn celebrate the agreement to partner on the FAIR Initiative.