Think Olympic athletes are all cashing in on lucrative sponsorships? Think again! In track and field, many talented athletes are grinding away at side jobs just to keep their heads above water. Well, so to live a better life, sponsorships are a lifeline for them, providing the income they need to train, compete, and cover their living expenses. While big names like Noah Lyles, Usain Bolt, Gabby Thomas, and Sydney McLaughlin-Levrone have landed impressive deals, there are also rising stars in the mix. Take, for example, a 22-year-old cross-country athlete who’s starting to carve out a path similar to those accomplished athletes.
Parker Valby is really making a name for herself in track and field! With six NCAA titles under her belt from the University of Florida, two collegiate records, and even making the Olympic team at just 21, she’s clearly got the talent. New Balance has taken notice of her potential and signed her on, just like they did with Thomas and McLaughlin-Levrone back in 2018. Valby will be training in Boston with New Balance Boston and getting coached by Mark Coogan. It’s a pretty exciting setup, especially since New Balance Boston is home to some amazing athletes. With this kind of support, Valby is sure to reach new heights in her career!
Valby has already hit the track with Team New Balance Boston a few times, and she’s absolutely thrilled about it. She shared, “I’m excited to join the New Balance family and train in Boston with such an incredible group of runners. Family is very important to me, and it was clear that New Balance was the right brand for me. I can’t wait to get started.” She’s really feeling the vibe in the city, saying, “Boston already feels like home, and I’m honored to begin my professional career with a brand that wants to support my dreams both on and off the track.” However, signing this exciting new chapter comes on the heels of some disappointment, which makes her journey all the more meaningful.
But Parker Valby’s journey to securing a shoe endorsement deal is pretty impressive, especially with the help of her father, Kyle Valby, who is also her agent. He’s a pharmaceutical company executive with a knack for negotiating multimillion-dollar contracts. When Parker was about to complete her graduation in June 2024, multiple brands started eyeing her, recognizing her as one of the top athletes coming out of college. With potential annual deals estimated between $650,000 and $800,000, brands like Nike, On, and Puma were eager to sign her as her senior year track and field athlete at the University of Florida came to a close.
However, it was not easy at all! Parker faced disappointment during the initial endorsement negotiations. Many brands treated her potential contract as just another transaction, failing to recognize her unique value. Instead of crafting a deal that aligned with her goals, they wanted to simply plug her name into a standard contract. This lack of personalized attention was disheartening for her. “Many of the companies wanted to approach Parker’s contract as a transaction, simply crossing out one athlete’s name and putting in Parker’s,” Kyle said.
Parker Valby’s value soared after her impressive performances at the U.S. Olympic Trials, where she finished fourth and second in two events, securing a spot on the Olympic team for the 10,000 meters. Briefly leading the race, she ultimately finished 11th with a time of 30:59, attracting interest from numerous companies eager to partner with her.
Having her dad as her agent meant Parker could dodge the usual 15 percent commission fee agents typically charge on endorsement deals, bonuses, and race prize money. Since Kyle was focused solely on her, he was able to get creative during negotiations. He networked with agents from various sports and industries, looking to craft a deal that fit Parker perfectly rather than just following the traditional route.
“They (Brands) wanted something unique, something “disruptive,” Valby said. New Balance stepped up to the plate, delivering a deal that Parker was excited about. “I wanted to be part of a company that wants to grow the running world together,” she said. “I’m super excited to do that with this partnership.” Now, the big question remains: just how valuable is this New Balance deal?
Parker Valbys new chapter with new balance taking the bull by the horns in track and field
New Balance, who is supporting Valby as their sponsored athlete, is maintaining confidentiality around their partnership agreements with track and field professionals like her. Her contract is no different in this regard. Though the exact details remain undisclosed, it’s clear that this collaboration represents a long-term commitment for both parties involved. Pete Riley, head of sports marketing for running at New Balance, has subtly indicated that the partnership is set to extend post-the 2028 Olympics.
“I can’t get into the details of it, but there are going to be things coming that are going to certainly excite a young audience, especially a high school athlete,” he said, teasing some big plans for Parker Valby in their marketing and product lineup. Interestingly, after she signed with Nike, there also started another controversy, as during the U.S. Olympic Trials in June, Valby was still racing in her University of Florida kit, not Nike sportswear, but why?
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