What kind of value could you put on an event like
that? Millions? Billions?
I’m not sure how your memory is hanging on, but I had to
shuffle through a few old files and bing/yahoo a few old stories to
be reminded of what is probs the biggest failure in sports
marketing history.
To wit, Quiksilver losing the naming rights to what is now The
Eddie Invitational but used to be The Quiksilver: In Memory of
Eddie Aikau.
What you may not know is The Eddie Invitational, sponsored by
Quiksilver, didn’t start off as a big-wave contest.
The first event was held in
six-to-eight-foot waves at Sunset Beach back in 1984,
and only went big wave when Quiksilver execs along with Fast Eddie
Rothman turned it into the speciality event we all know, love etc,
at Waimea Bay.
When the fifty-k prize money was announced, it also became the
richest surf contest in the world.
In 2016, it felt like the event couldn’t get any better when
John John Florence, the just-crowned world surfing champion,
cemented his claim to best in biz when he won the
still-sponsored-by-Quiksilver, although barely, Eddie in wild
25-foot conditions.
What kind of value could you put on an event like that?
Millions?
So how did such a fruitful relationship, which included
the lucrative sale of Eddie Aikau-Quiksilver merchandise,
wind up in the gravel, pecking for worms?
Here’s the background: the previous ten-year contract was
expiring in the spring of 2016 and Quiksilver and the Aikau family
began negotiating a new deal.
The Aikau family were advised that a potentially better deal
might be out there if they shopped it around a little. Red Bull was
in the mix, initially, but apparently, Red Bull and the
WSL couldn’t couldn’t find a way to play nice so they pulled
out at the last minute, leaving the Aikaus with no deal.
A source told BeachGrit multiple offers were submitted to the
Aikaus by Quiksilver, all with increased revenue sharing
opportunities but all were rejected.
But here’s the thing.
Quiksilver owned the permits for the 2015-16 contest and even
canvassed the idea of calling it a different name to circumvent the
need to involve the famous Hawaiian family.
Quiksilver played around with The Quiksilver: In Memory of Jose
Angel, The Quiksilver: In Memory of Todd Chesser, The Quiksilver:
In Memory of Brock Little.
Anyway, it worked out for 2016 but was terminated shortly
after.
Did Quiksilver decide that the chances of The Eddie ever being
as good as 2016 were so slim any subsequent money poured into it
would be wasted?
The question I asked at the time was, would you, if gifted the
keys to the clothing giant that was once famously six hundred
million dollars in debt, continue to run with The Eddie?
Or would you pour the surplus money into your number one team
rider Matt Banting?
Quiksilver chose Banting.
Regrets, y’think?
