Britain’s Olympic medal winners returned home yesterday to lives that have been for ever changed.

The 27 British sportsmen and women are set to make millions of pounds out of their newfound fame as respected household names as the nation’s obsession with the Games mounts in the run-up to 2012.

Sponsorship and marketing experts claim that leading companies will be jostling to secure endorsement deals, yet many of the medallists appear oblivious to the opportunities open to them,

Steve Martin, who has represented the England footballers David Beckham and Wayne Rooney, said that the returning athletes had a golden opportunity to increase their earnings.

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“People don’t understand how much these guys could actually make,” said Mr Martin, the chief executive of sponsorship at M&C Saatchi. “The potential is simply huge now, particularly because we have the Olympics on our doorstep. Big brands are going to be falling over themselves because these people are such good ambassadors for their sports. And we are going to be obsessed with the Olympics for four years.”

Mr Martin said that Chris Hoy, who won three cycling gold medals, could earn at least £1 million before the next Games. Hoy said yesterday that, while he was aware of the opportunities arising from his success, he would not allow them to threaten his future sporting success. “It will be exciting and fun but you’ve got to get the balance right,” he said.

The popularity of the swimmer Rebecca Adlington, who won two gold medals, was underlined yesterday as her local pub, The Yates’s Bar in Mansfield, Nottinghamshire, said that it would change its name to the Adlington Arms in her honour. Adlington, 19, maintained that she would not change her approach. “In about a month’s time, I’ll be getting back in the pool at 5am every morning. You’ve got to get your head down,” she said.

Much of the new income earned by the athletes will come from endorsement deals linked to the equipment and the training connected to their sports; from bicycles and swimming suits to health foods and fitness equipment. They are also likely to be approached to promote luxury goods and fashion wear.

The medal winners will also be invited to give after-dinner speeches in the hope that their commitment to succeed can inspire businessmen. Such events can earn them as much as £10,000 a time.

Mr Martin cautioned the athletes against rushing to accept the first deal that they were offered. “It’s about planning it and not taking the quick buck,” he said. “It’s about building a brand, their own brand. Once you’ve won a gold medal no one can take it away from you. That gives you the potential to become both respected and wealthy.”

Mark Bawden, a sports psychologist, said that the athletes would need time to adjust to their “glow of success”. Mr Bawden, the lead performance psychologist at the English Institute of Sport, said that the rapid increase in fame and attention could pose problems.

He said that it was common for athletes to go through an intense period of self-reflection, particularly if they were deciding whether to commit another four years to elite sport.

“It’s the pinnacle of four years of hard work and momentum, which sees a lot of adrenalin and emotions build up,” he said. “Athletes will need to deal with success or adversity so there is a shift in mood-state, which can last for several weeks.”

Some are already avoiding the limelight and returning to their regular day jobs. Tim Brabants, the canoeist who won a gold and a bronze medal, told The Times that he would combine training with work in a NHS casualty department for the next 18 months.

At first, he will work free to rehone his skills, having not worked in accident and emergency for two years.

“I’m not going to make a living out of kayaking in the long term and it’s important that I have a career that is challenging and fulfilling,” he said.

Peter Reed, a rowing gold medallist, is a lieutenant in the Royal Navy. He said that he hoped to return to full-time training with the support of the Navy.

“I’m hoping to do corporate work rather than being at sea. They have been very supportive,” he said.

Despite the hype surrounding their return, the athletes were not treated to a heroes’ welcome when they flew into Heathrow yesterday, after the airport operator BAA expressed concern about large crowds.

Instead, the team members were taken through a VIP entrance and whisked away to a nearby hotel, disappointing fans who were waiting for them at arrivals.