SPEEDO will reward American Michael Phelps US$1 million (about RM3.3 million) for his phenomenal eight-gold haul in the Beijing Olympics.

While that, even for a haul that eclipsed Mark Spitz's 1972 Munich Olympics win of seven gold medals, seems a lot, this is all about business and Speedo is laughing all the way to the bank.

A business programme I was watching the other day said the airtime Phelps gave Speedo each time he appeared on television would have in advertising dollars, cost the company almost US$4 million.

The same applies to China's NBA star Yao Ming and crocked hurdler Liu Xiang.

Both are being paid big money for the various products they are endorsing but it is small compared to what the companies would have to pay if they were to advertise.

It can, of course, backfire as is the case with Liu Xiang who has withdrawn from the Olympics while there was much nervousness when China's basketball team lost their first two matches and were in danger of missing the quarter-finals.

A sports attire company that sponsors Yao Ming has littered various places in Beijing with huge cut-outs of China's biggest sports star and it would have been bad business if the basketball team had not made the last eight.

Luckily for the sponsors, that didn't happen and they will get their maximum mileage when Yao Ming leads China out for today's quarter-final against Lithuania.

In Malaysia, the only athlete who can be seen endorsing products is squash star Nicol David.

Companies are interested in her simply because she is successful and if she is earning big bucks, so be it.

More of our athletes should aim for that.