Dick Harmon: Jimmer Fredette takes first step into business world with poster
Jimmer takes first step into business world with poster
According to Martin, the Fredette family liked the poster idea because it is something to be shared with fans, celebrating all of the awards that have piled up the past two weeks.
"The price of $10 is the same as the Detmer poster 20 years ago. The family wanted to make it affordable for the regular fan," Martin explained.
Video of the actual making of the poster shoot with Jimmer will be available for view on the website.
The Fredettes declined an advance against sales from Martin and told him they'd wait for the official returns from sales.
In the world of trademarks, logos and money, even this simple Jimmer poster is an exercise in artistic rights, intellectual property and licensing. If it had the BYU name or logo on it, a hologram tag indicating a BYU license would have been required. This poster does not.
Martin retouched the image to remove the Nike logo on the basketball and the Nike swoosh on his shoes — because at this stage, before an endorsement contract, that product option must be kept open as a matter for negotiation as well as legal protection in a licensing deal. Nike isn't getting a free plug — except for the one in this column.
Welcome to the world of professional marketing.
Overall, the Fredettes love the poster project.
"It's good for myself and for the community to have something like this. I believe it will be a great thing," said Jimmer.
To date, Fredette's parents have handled requests for Jimmer, and the total demand is unknown.
"Not yet. But they've been talked to by tons of people for appearances, people who want me to come talk and different things," Jimmer said. "I'm sure more will come, but I just barely got done."
Back in Glens Falls, N.Y., the Fredettes have been the gatekeepers for more than a year, holding back people wanting a financial piece of their son. NCAA regulations have precluded them from involving Jimmer, but now he is free to be paid for his labor.
Agents began contacting the Fredette family a year ago. At first there were two agents. Now the number is up to 25. The family has researched issues of representation and have met with agents while keeping them away from Jimmer until this week. They chose eight agents for Jimmer to see personally; five of them were in Provo on Wednesday. The final cut will be done in New York in coming weeks.
Said Al, Jimmer's father, "Coach Rose, my daughter Lindsey, her husband Brent and Jimmer met with the agents in Provo. We have found it helpful to have different perspectives on the agents and what they say and promise.
"After Wednesday, we will compare notes and Jimmer will decide on two or three and the final one by May 1. Once he signs, the agent can start paying for Jimmer's workouts, travel, nutrition, trainers and his family travel, if they feel it is important for him to have us around."
Following their son's college career has been expensive for the Fredette family. They knew this from the start and were prepared. The Fredettes started by purchasing DirecTV, so they could get all the networks tied to the Mountain West.
Al had $10,000 worth of stock options from his company, AXA Advisors, where he is a financial advisor. He sold those options over the course of four years to pay for airline tickets. The family stayed with Utah relatives to help with costs.
Al's brother and sister helped pay expenses to drive to the MWC Tournament and NCAA regionals in Denver and New Orleans. The family drove from Utah to Denver and back, and then drove to New Orleans and back to Utah, before driving back to New York.
"The airfare price for three of us would have been $5,000, so we drove the 4,800 miles. But it was totally worth it," said Al.
"I don't see how most people could afford to watch their sons and daughters play. Without the stocks, free places to stay and help from family, we couldn't have done it."
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