What do the most successful sports stars do once they retire from the sport that made them famous? In some cases, they go on to become just as successful in the business world as they were in stadiums and arenas. The following are four stars who found the formula for business success too.

• George Foreman

Foreman made his name as an imposing heavyweight boxer. A long career saw him win a gold medal in the 1968 Olympics and twice become world champion. He took part in some of the sport’s most legendary bouts, such as the Rumble in the Jungle against Muhammad Ali in 1974.

After becoming the oldest heavyweight champion in history, Foreman retired from boxing in 1997. However, he went on to become a hugely successful entrepreneur. Among his ventures were clothes and eco-friendly cleaning products.

He is now best known for the grill that bears his name. The George Foreman Grill has sold over 100 million units and he sold the naming rights for $138 million.

• John Elway

The iconic quarterback led the Denver Broncos to five SuperBowl triumphs and set numerous NFL records that are still difficult till this day to overcome by the current contenders. His career got off to a controversial start when he was picked by the Baltimore Colts in the 1983 draft but refused to play for them. Elway eventually entered the Pro Football Hall of Fame in 2004 and is now regarded as one of the finest quarterbacks of all times.

In the business world, he has been active in a wide number of different areas. For example, he co-owned Colorado Crush of the Arena Football League. He also has a chain of four steakhouse restaurants that bear his name.

Elway also owned some auto dealerships in the past. John Elway Autos was based in the Denver region and he reportedly sold it for $82.5 million in 1997. He now has a couple of Toyota dealerships, a Cadillac franchise, and a Chrysler outlet.

• Venus Williams

The former number one female tennis star has four Olympic gold medals and seven Grand Slam titles. Known for her formidable power, Williams has recently struggled with injuries and a loss of form.

She hasn’t waited for retirement to start up her own businesses. Among her top achievements so far has been the launch of her own fashion line. Williams said that designing a range of clothes that she will wear on the tennis court is a “dream come true”. Her EleVen clothing debuted at the 2012 New York fashion week.

She is also the CEO of V Starr Interiors, which is an interior design company based in Florida. She has been successful so far in designing the likes of the set for the Tavis Smiley Show and the proposed athletes’ apartments for New York’s 2012 Olympics bid. 

• Roger Staubach

11 seasons with the Dallas Cowboys firmly established Staubach as an NFL legend. Drafted in 1964, the quarterback played his part in five Super Bowl victories and made the Hail Mary pass famous too. He finally retired from the game in 1980.

Since retiring, Staubach has become a big name in the real estate business. He started up The Staubach Company in 1997. At the beginning, it employed just a handful of employees, but the business grew quickly in the next few years. 

He then sold it in 2008 to Jones Lang LaSalle for $613 million. This earned him and his family trust over $100 million. This is another great example of how the skills and determination learned during a sports career can be put to use in the business world too.