We do not artificially inflate or deflate share prices based on performance. It is entirely possible that an athlete can perform in a superior fashion and still experience a decline in share price if the demand to sell the stock is greater than the demand to buy it. Conversely, athletes performing poorly, even those injured, suspended, or retired, could experience a rise in share price if everybody is still trying to buy their stock. Having said this, there are two indirect links between performance and share price. The first is the dividend payment.
Athletes pay dividends based on their performance.
Therefore, those athletes performing better will pay higher dividends and will most likely be in higher demand. Thus, their stock price will probably rise, although this is not guaranteed. The second factor is popularity. Trading stock is a popularity game. If more people want to buy a stock than want to sell it, the price goes up.