Golfer Greg Norman is the latest athlete to sell his future licensing rights and endorsement income.
The 62-year-old Australian will be paid an undisclosed sum by Authentic Brands Group, which will now be a partner in controlling the direction of the consumer products division of The Greg Norman Company, which was known as Great White Shark Enterprises until late last year.
ABG will not only help guide the brand in apparel and accessories, but also in Norman's already developed business in steaks and wine, the latter entering its 17th year in business. The partnership excludes other parts of The Greg Norman Company including its investment arm, branded real estate and the 102 golf courses he has designed as well as the 45 under contract around the world.