Corporations like Nike and Adidas are aware that tapping into the Pro Bodybuilding market is a venture fraught with danger.
Images of homosexually-biased-audiences, screaming and cheering for oiled-up-men-in-thongs, is 'not' what these corporations would consider to be good business acumen.
Pro Bodybuilding has its roots in the gutter of society, and there it will stay!
So to all of those 'insecure little butt stains' who have this perverted-boyhead-dream on standing oiled-up on that Olympia stage, well; find an alternative way of paying for the huge steroid bills that await! Because Nike and Adidas wont be footing the bill!
Homosexuality has nothing to do with it. Neither does steroids.
Otherwise, how do you explain big name sponsors backing WWE, with its complement of muscular wrestlers (Batista, Cena, Hemsley, etc.)?
Bodybuilding gets no play, because in the minds of the average Joe, the bodybuilders do NOTHING with their muscles, besides FLEX. They don't run, jump, or throw things (or people).
If I have no major interest in bodybuilding, why would I pay ungodly amounts of money to go to a contest? I can watch Batista do most-musculars every week on Smackdown for free.