Social media could turn athlete earnings gold

Olympic athletes are returning home from the London Games, hoping to extend their peak period for endorsement earnings through their increased popularity on social media.

Many athletes saw their earnings potential skyrocket during the Games, even existing household names such as Michael Phelps, the US swimmer crowned as the most winning Olympian of all time, and Usain Bolt, the fastest man in the world. The athletes, who both are endorsed by a lineup of global brands, could earn about $50 million a year in endorsement deals should they be able to extend their time in the spotlight beyond the halo of the Games, according to SponsorHub, a company that brokers endorsement deals.