Markets in Everything---G.O.A.T.

In homage to Marginal Revolution's ongoing series of odd examples of markets in action, I note that Muhammad Ali has recently sold the marketing rights to his name for $50 million to a company called CKX. CKX, which also holds the marketing rights to Elvis Presley and the TV show American Idol, will operate a subsidiary called G.O.A.T (Greatest of All Time) on Ali's behalf. CKX will receive 80% of the revenues while Ali will retain 20%. Why would Ali give up 80% of his name? Perhaps CKX can more successfully exploit market opportunities using the Ali brand name that would benefit both sides to this transaction.