Slater takes stake in sponsor

2010-11-12 12:10

Florida - American surfer Kelly Slater, who won his 10th world title last weekend, has declined a seven-figure bonus from his sponsor, Australian surfwear brand Quiksilver, in exchange for a 3% stake in the company.

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According to the SportBusiness website, Quiksilver chief executive Bob McKnight revealed the brand has grown 10-fold since it signed the now 38-year-old Slater, 20 years ago.

“We sat down and talked to Kelly about all that (the seven-figure bonus). We said ‘do you want us to put the money to something like that or would you rather us to back it with ownership in the company which will make you 10-fold that in years to come?’”, said McKnight.

“And he said, ‘definitely stock.’”

Slater, McKnight and the University of Southern California have also developed technology to produce perfect artificial waves, which could change the face of surfing and make the sport a viable candidate to the Olympic programme.

Kelly Slater celebrates his 10th ASP world title (ASP/Kelly Cestari)