Tyson Fury is such a big hitter on social media that retirement should be another major earning opportunity
- Written by Wasim Ahmed, Senior Lecturer in Marketing, University of Hull
Boxer Tyson Fury recently announced[1] that he was retiring from the sport. Just like he did in 2013[2] and 2017[3]. And then again in 2022[4].
Maybe this time he means it. If he does, it will mean walking away from a lucrative planned fight against Anthony Joshua, which was set to generate over US$300 million[5] (£246 million) in revenue.
Not that Fury will have any pressing financial concerns of course. He is reportedly Britain’s highest ever paid boxer, with estimates putting his net worth[6] between £80 million and £300 million[7].
But given Fury’s multiple business ventures, he can easily choose to now pivot towards expanding his fortune outside of the ring. For the 36-year-old is another example of the celebrity entrepreneur who has been hugely successful in one field and then used their fame to branch into others.
In Fury’s case, his current projects include an energy drink[8], ice lollies and protein bars. There’s a Netflix series[9] too, so he’s unlikely to be bored in retirement (if he sticks to it, of course).
Social media is likely to help Fury if he wants to develop his business interests, as a crucial element of his ongoing brand value[10]. Because luckily for him, this is another space where he packs a considerable punch[11]. He has 6.9 million followers on Instagram[12], 2.2 million on X and 2.2 million on Facebook[13].
For athletes seeking to pursue an entrepreneurial path after they’re done with elite competition, social media has become a crucial tool. With the right numbers, it can be an easy way to amplify their personal brand and smooth the transition from sporting excellence to things like fashion, entertainment and food and drink.
Tyson Fury’s X followers by region:
Fury’s numbers put him in an excellent position to launch and promote consumer products. Or indeed, to promote social causes, and change some of the media narrative that surrounds him as an outspoken and sometimes controversial[14] showman. He has previously used his popularity to raise awareness against social causes like youth knife crime[15], for example.
Similarly, when swimmer Michael Phelps retired, he became well known as a mental health advocate[16]. Former Arsenal footballer Thierry Henry used his status to campaign against racism and bullying[17].
A lot of retired sports personalities these days seem to be following David Beckham’s celebrity and entrepreneurial branding[18] pathway. One of the best known footballers on the planet, he has a vast social media following (over 88 million followers[19] on Instagram), and has branched out into the worlds of sportswear, grooming products and video games, to name but a few.
Gary Lineker, soon to end his 26-year reign as presenter of Match of the Day, is well known for his commercial connection to a brand of potato crisp. In recent years, he has also made a big success out of the podcast boom, with his company Goalhanger.
Certainly, the media[20] is a popular route for many athletes after their playing days are over. Former Premier League players Gary Neville (Manchester United) and Jamie Carragher (Liverpool) are among the highest paid UK sports pundits on television channels like Sky Sports and ITV. Rio Ferdinand (also Manchester United), who has done plenty of punditry himself, now appears to be focusing on building his own personal brand[21] alongside running a successful podcast[22] with 1.26 million subscribers.
When former Premier League goalkeeper Ben Foster was approaching retirement, he started documenting the behind-the-scenes life of a football player. His vlogs[24] became an important part in the resurgence and world fame of Wrexham FC.
Elsewhere, triple tennis grand slam winner Andy Murray has hinted at a possible acting[25] and stage career[26] after retirement. In the meantime, he agreed to coach his former rival Novak Djokovic, and is also involved in multiple brand deals[27].
Mixed martial artist Conor McGregor co-created a whiskey brand[28]. Cristiano Ronaldo has capitalised on his massive social media following[29] to promote his CR7 brand.
This kind of branching out has been described by researchers as “reconstructing athletic identity[30]”, which has come to be seen as an important coping mechanism[31] for athletes dealing with the loss of identity that some professional sports men and women experience post-retirement.
Research suggests[32] that athletes who come to the end of their sporting careers can face significant long term challenges, including distress[33], depression[34] and substance misuse[35].
For some athletes, social media can help them to ease the transition away from elite sport. It has opened up a direct channel to consumers and fans which allows them to maintain a high level of social engagement – as they switch from the athletic arena to a new competitive world as entrepreneurs. And while this may count towards astute financial planning for retirement, it can also have a meaningful impact on their general wellbeing.
References
- ^ announced (www.bbc.co.uk)
- ^ in 2013 (www.sportskeeda.com)
- ^ 2017 (www.skysports.com)
- ^ 2022 (www.sportingnews.com)
- ^ US$300 million (leadership.ng)
- ^ net worth (www.walesonline.co.uk)
- ^ £300 million (www.the-sun.com)
- ^ energy drink (tyson-fury.com)
- ^ Netflix series (www.youtube.com)
- ^ brand value (alexfenton.co.uk)
- ^ considerable punch (theconversation.com)
- ^ Instagram (www.instagram.com)
- ^ Facebook (www.facebook.com)
- ^ controversial (www.bbc.co.uk)
- ^ youth knife crime (www.bbc.com)
- ^ mental health advocate (journals.humankinetics.com)
- ^ against racism and bullying (www.bbc.com)
- ^ celebrity and entrepreneurial branding (www.proquest.com)
- ^ 88 million followers (www.instagram.com)
- ^ media (journals.humankinetics.com)
- ^ personal brand (www.gq-magazine.co.uk)
- ^ successful podcast (www.youtube.com)
- ^ EPA-EFE/ALI HAIDER (epaimages.com)
- ^ vlogs (www.sportbible.com)
- ^ acting (www.thescottishsun.co.uk)
- ^ stage career (www.hellomagazine.com)
- ^ multiple brand deals (www.mi-3.com.au)
- ^ co-created a whiskey brand (www.msn.com)
- ^ massive social media following (www.beinsports.com)
- ^ reconstructing athletic identity (www.tandfonline.com)
- ^ coping mechanism (www.sciencedirect.com)
- ^ Research suggests (journals.lww.com)
- ^ distress (pubmed.ncbi.nlm.nih.gov)
- ^ depression (pubmed.ncbi.nlm.nih.gov)
- ^ substance misuse (www.researchgate.net)
