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Alesha Dixon may be best-known for bringing star power to the judging panel on Strictly Come Dancing, but today she revealed her business acumen, signing up as a board advisor to gym operator LA Fitness in a deal that could give her a £3 million bonus.
In an exclusive interview with the Evening Standard, Dixon revealed she is to advise the LA Fitness board on strategy, organising fitness videos and workout plans for the chain.
Instead of the usual celebrity endorsement, which is funded with a one-off payment, the gym group is paying most of Dixon's cash through a multi-million pound bonus, if it hits specific revenue targets.
She has also been awarded shares in the firm, which has been owned by private equity giant MidOcean Partners since delisting in 2005.
The Strictly Come Dancing judge — who said she has never previously invested in any business — will work for LA Fitness for four years.
Dixon said: “I've always been involved in sport so this was a natural way to start my business career.
“I want to get involved in changing LA Fitness to appeal to a broader market.”
She added that she would also be hitting the treadmill at the operator's city-centre gyms at London Wall, on Leadenhall and in Piccadilly.
Chief executive Martin Long said Dixon had been “incentivised to get involved” with the business, attending monthly meetings with advice on “what people want to find at the gym — not just machines, but dance classes and more”.
“This is a deep-seated deal lasting four years,” Long said. “The vast majority of her pay will be directly tagged to LA Fitness's revenue growth. This is not just some PR stunt, she is getting involved in the strategy of the business. If LA Fitness does well over those four years, then Alesha Dixon will do very well.”
Reader views (1)
Hilarious !
Why not involve someone who is;
- trained in the business or
- has experience of the sector
nope - I guess that doesn't make headlines ?
"what people want to find at the gym — not just machines, but dance classes and more”
OOh like er , um different classes, other machines and perhaps different music. That's about all you can change !
- Dixon Kipretich, Ugley, Essex
