New Balance has signed an exclusive deal with Parker Valby, a significant milestone in the sports industry. This exciting news was announced just yesterday, and we’re here to bring you all the details.
About six years ago, New Balance made a strategic move by signing Sidney McLaughlin (now Levron). This pivotal transaction not only had a lasting impact on the sport, but also significantly enhanced the brand’s impact.
Back in October 2018, the sports world was abuzz with news that top brands were vying for Ms. McLaughlin. New Balance, however, came out victorious with a compelling bid, securing one of the sport’s most beloved athletes and his four Olympic medals.
Parker Walby, the shining star of American distance running, has been a hot commodity in the industry. With her impressive track record as an NCAA champion in cross country, indoor and outdoor track, and an Olympian, she has been courted by several top brands. Even NIKE had secured a NIL deal with him. His father, Kyle, known for his tough negotiations, ensured he could get the best deal possible, as highlighted in Sarah Large Butler’s detailed RW article.
The estimated annual value of the transaction with Parker Valby is 650-800 thousand dollars. However, due to the nature of the sport, these numbers are private. This is a reminder, as seen in the Abby Steiner case, of the delicate balance between media transparency and athlete privacy.
As part of his new sponsorship, Parker Valbi will be featured in New Balance’s advertising programs. She joins a prestigious line-up of athletes including Sydney McLaughlin-LeVron, Gabby Thomas, Ellie Purrier St-Pierre and Emily Mackay to represent the brand.
For this writer, one of Parker Walby’s best attributes is his cross training and low mileage. Coach Mark Coogan will be responsible for keeping Parker Walby healthy and fit. We look forward to seeing Parker develop as a professional athlete.
This writer notes that New Balance has handled sponsorship deals with its athletes lightly. Social media coverage is positive, with solid stories from mainstream sources and great social media pictures.
Kudos to Pete Riley for evaluating whether an athlete should be part of the New Balance family. He has an uncanny ability to bring athletes into a brand that makes sense on so many levels.
Each brand has its own style, but it is clear that the most popular brands do little to promote the signature of critical athletes. It will be interesting to see how New Balance hires its new ambassador.
Parker Valby will train with New Balance Team NB Boston under the watchful eye of team coach Mark Coogan.
PARKER VALBY SIGNS NEW PARTNER
Boston, MA – October 17, 2024 – New Balance is proud to announce the signing of Parker Walby, one of the most exciting young talents in distance running today. Parker graduated from the University of Florida after a stellar college career and is now part of Team New Balance Boston under New Balance coach Mark Coogan.
Parker is a six-time NCAA champion and record holder in the 5000m indoor, 5000m outdoor, 10,000m and 2024 Olympic 10,000m finals. Parker moved to Boston to train at the brand’s Boston University campus and with Team New Balance Boston, one of the world’s most elite running teams.
“I’m excited to join the New Balance family and train with such an incredible group of runners in Boston. Family is important to me and it was obvious that New Balance was the brand for me and I can’t wait to get started,” says Parker. “Boston already feels like home, and I’m honored to start my pro career with a brand that wants to support my dreams both on and off the track.”
Parker joining the New Balance family marks an exciting new chapter for the brand, which continues to inspire the next generation of athletes, give back to the communities in which it operates, and create best-in-class performance running products.
“Parker is an incredible talent who shares the same values as we do at New Balance, and we are honored to have him join our family of athletes,” said Pete Riley, New Balance Head of Running Sports Marketing. : “Having Parker live in Boston and train on our campus is a great opportunity for us to work closely together to inspire the next generation of runners and drive innovation across product lines.”
In addition, Parker will appear in campaigns ranging from running to lifestyle, work with the footwear and apparel design teams to continue driving performance running collections, and participate in groundbreaking innovation at the New Balance Sports Research Lab. Parker joins an impressive list of athletes that includes Sydney McLaughlin-Levron, Gabby Thomas, Elle Purrier St-Pierre, Coco Gauff and Cameron Brink.
For more information, visit www.newbalance.com.
About New Balance
Headquartered in Boston, MA, New Balance has the following mission: Independent since 1906, we’ve been empowering people through sport and craft to create positive change in communities around the world. New Balance employs 9,000 associates worldwide and is expected to generate $6.5 billion in global sales in 2023. New Balance has five sneaker factories in New England and one in Flimby, UK. New Balance MADE US shoes contain 70% or more domestic value and are a limited portion of New Balance’s US sales. To learn more about New Balance, visit www.newbalance.com; For the latest press information, visit http://newbalance.newsmarket.com.
