Hamilton next billion dollar man

LONDON, England (CNN) -- Handsome, articulate and lightning fast -- McLaren's Lewis Hamilton can now add two more words to his list of qualities: very rich.

The Briton is set to become one of the most marketable sport stars in the world -- perhaps second only to Tiger Woods -- and earn more than a billion dollars if he can maintain the buzz created by his first season in Formula One, experts say.

On Sunday he started his second season in perfect fashion, easily winning the Australian Grand Prix in Melbourne.

The 23-year-old signed a five-year contract with McLaren worth an estimated $140m in January. It leaves him lagging along way behind Ferrari's Kimi Raikkonen, who is paid an estimated $50m a year for driving, but it is through endorsements that he stands to reap a greater windfall.

Stephen Cheliotis, chief executive of the Centre for Brand Analysis and UK Superbrands and CoolBrands Councils' chairman, said Hamilton was the most marketable driver because he was a breath of fresh air. He had helped drive up race attendance and television fewer figures dramatically in his first season.

"He is young, mixing with the right people everyday -- rappers, film stars -- and a lot more articulate than Kimi Raikkonen," Cheliotis said.

"He is also the first black driver and it does have a bearing, much like Tiger Woods in golf. He is also the most marketable because he is going to be the best, much like Michael Schumacher."

Pippa Collett, Sponsorship Consulting's managing director, said Hamilton was certainly the most marketable driver in the short term.

His performance meant he was the dominant member of a group of "young turks" -- Nelson Piquet Jr, Nico Rosberg, Heikki Kovalainen -- who had great potential.

Collett said in terms of the media Hamilton's performance, friendliness, English speaking background and professionalism were key assets. If he could maintain these he would earn more than Schumacher -- the sport's first billionaire driver.

Indeed, Schumacher set an example which Hamilton would be wise to follow.

He was the first driver to win personal sponsors after Ferrari allowed him to sign a $10m annual deal with a German bank to place its logo on his cap.

The German also actively pursued the development of his own retail range, which included caps -- he sold hundreds of thousands at $30 a pop -- and even a branded vacuum cleaner.

Collett said Schumacher's manager, Willi Weber, was very good.

"Schumacher was a nice guy but not very charming. However, he was very professional and you knew he would turn up," Collett said.

Cheliotis agreed Hamilton would earn considerably more than Schumacher, and that there would be a big gap between his earnings and that of the other drivers.

However, there were pitfalls. Lewis had already made the mistake of saying he was moving to Switzerland to avoid the limelight when it was all about avoiding tax, Cheliotis said.

"He said that and then turned up at every awards night for a month."

Cheliotis said appearing arrogant, being caught out by the tabloid press, endorsing a brand and then using another and over selling himself could also damage his value.

"The big danger with someone like Hamilton is that he is so in demand and that he has so many sponsors it leads to brand confusion. There is a danger of being one of 50 sponsors and not getting any value."

Collett said Hamilton needed to develop his "life-time brand". While Raikkonen may not be a media darling he had developed an "Iceman" image, which was just as important in the long term.

English footballer David Beckham, whose performance had dropped off, had successfully developed a life-time brand that would out last his playing career.

Collett said Hamilton's one weakness may be his father, Anthony.

"His dad is his manager. Your brand positioning is as an individual... having your dad around too much could affect your brand."

Collett said Hamilton would have to be wary of bad press, but a little bit of young turk behaviour could enhance his image as long as he continued to excel.

"I think that is part of the glamour... some of that and continued brilliant performances will make his life very easy." E-mail to a friend

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