16 Nov 2020 | 10:52 am | 1 min. read
Multinational law firm Pinsent Masons has advised Team WIT on a major multi-year collaboration deal with Icelandic CrossFit Athlete, Sara Ragnheiður Sigmundsdóttir – an agreement taking Team WIT to the next level in its mission to inspire and ignite the training journeys of the global fitness community.
With WIT a long-standing client of Pinsent Masons, the team were able to understand the history and future aims of the brand, the sport itself and the motivations of the athlete, ensuring the successful creation of the ambassador/endorsement agreement.
The partnership follows a recent and growing trend of athletes wanting to be more involved in the development of the brand from within. The commercial power derived from the combination of brand and athlete is the driving force behind more bespoke contracts.
Leading on the deal was Samantha Lewis, head of the wellness sector at Pinsent Masons and Kimberley Perry an associate in the global sports advisory team.
Daniel Williams, CEO of WIT Fitness, said:
“Sara is an inspiration to consumers and athletes all over the world and is perfectly aligned to our brand slogan and ethos of “Whatever it Takes”. I was pleased to have the support of both 10Ten Management and Pinsent Masons in getting the agreement negotiated and completed. Tom Caplan at 10ten Talent and Kimberley Perry and Samantha Lewis at Pinsent Masons guided us through the process. It was great to have their input as the negotiations dealt with the challenges of a cross-border deal in unprecedented times, effectively managing the impact of Covid-19 on the commercial rights granted. I thoroughly enjoyed working with the team and, as usual, I felt strongly represented and in good hands at all times".
Samantha Lewis, Wellness Lead within Pinsent Masons commented:
"Sigmundsdóttir is an institution in the sport of fitness and her journey has been followed by millions around the globe. It is a privilege to be part of the team supporting WIT on this innovative and exciting development in their business, particularly given the inspiration Sara gives to the fitness community across the world."
Kim Perry, associate at Pinsent Masons added:
"The Covid-19 pandemic has impacted commercial rights and the form of contracts in a significant way, both now and for the foreseeable future. It was great to work with WIT, Sara and 10Ten in delivering such a positive and pioneering agreement, one that, considering the existing and potential challenges from Covid-19, is robust and will enable both WIT and Sara to activate the exciting plans they have drawn up."
Sara Ragnheiður Sigmundsdóttir said:
"I connected straight away with the brand when I knew the story behind it, and knowing how driven they are and they literally stand for what it means “They do whatever it takes”, and my favourite thing…. their logo is a rune that symbolises strength. This is exactly why I decided to join them.The ideas they had for our collaboration simply took my breath away and I can’t wait for it all to unfold."
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