Michele Steele reports about Simone Biles' withdrawal from the final of the gymnastics team and the support she has received from former Olympians. (2:27).Sponsors of Simone Biles, Athleta, Visa and Visa, applaud her decision to withdraw from the Olympics gymnastics team competition due to mental health issues.Sponsors are praising athletes for being more open about their mental health. This is just the latest example. When Naomi Osaka, a tennis star, withdrew earlier this year from the French Open, she received widespread support.Biles could still participate in other gymnastic events at the Olympics. Biles has a long history of gymnastic achievements, including four gold medals as well as a bronze medal at 2016 Olympics. Since 2013, she has won five more all-around world championship titles. This gives the 24-year old a legacy of athletic excellence that sponsors can capitalize on.Jim Andrews, founder and CEO of A-Mark Partnership Strategies said that it is past the point when athletes like Simone were valued solely for their athletic prowess. She has been a great spokesperson and influencer, even though she has not competed and will eventually retire.Biles parted ways with Nike, her long-term sponsor in April to sign for Athleta. Athleta is the Gap's athletic clothing arm. Biles' agreement with Athleta includes sponsorship of the Gold Over America victory tours later in the year. This will feature her and other USA Gymnastics team members.Biles stated that she signed with Athleta instead of Nike because she wanted to align with a brand that was more representative of her values.Biles stated in May that she felt like the girls worked very closely with women.Biles' first Athleta ad campaign was launched in June. It featured a video featuring her supporters as she rose to stardom.After Biles' withdrawal from Tokyo, Athleta released a statement supporting Biles.Athleta stated, "We stand behind Simone and support their well-being both inside and outside of competition." Being the best means taking care of yourself. We are inspired by her leadership and support her every step of her journey."Visa issued a similar statement and called her decision "incredibly courageous." Nabisco stated that Biles was an "inspiration for us all." Core Power, a protein shake manufacturer, stated that Biles "shows us all that her courage, strength, and reach well beyond the mat."David Carter, a professor of sports business at the University of Southern California and founder of the marketing consultancy Sports Business Group, stated that dropping support for Biles would do more harm than good for a brand.He said that sponsors should be careful not to appear as cutting and running due to the fluidity of the situation and the high-profile nature. This would not only anger many of the consumers who support Biles but also future athletes considering marketing relationships with brands that are tone deaf to the circumstances.
