Richard Simmons, the reclusive fitness mogul whose sudden disappearance from public life spawned a hit podcast, might soon return to public life, thanks to a business deal. And in the latest odd twist in Mr. Simmons’s story, it may be a result of that podcast.

Prominent Brand + Talent, a management company co-founded by Mr. Simmons’s manager of three decades, announced on Wednesday that it had acquired exclusive rights to represent Mr. Simmons for merchandising, endorsements and licensing opportunities. The trade publication License first reported the deal.

Michael Catalano, Mr. Simmons’s manager, said in an interview that Mr. Simmons might be willing to come out of his self-imposed exile to help promote products that result from the deal. If Mr. Simmons does appear in public, it would be the first time he has done so since February 2014, when he stopped showing up to teach his class at Slimmons, his gym in Beverly Hills, Calif. He abruptly became a recluse and has not been seen since, spurring concerns about his well-being.

“All I can say, at least for now, is it is possible,” Mr. Catalano said of whether Mr. Simmons would get involved publicly. “But it is yet to be determined, I would say.”