How Do Olympic Athletes Make Money. However, as it turns out, they are the exception, not the standard. Athletes from all countries can also earn their money from outside competitions and tournaments.
Olympians make a good chunk of money from winning medals. Olympic athletes make money mainly through sponsorship deals, medaling in the games, or participating in leagues for their sport outside the olympics. If you live near an olympic training center, there’s a chance you are interacting with an olympic athlete in disguise.
This Means None Of Them Are Guaranteed Any Money.
They’ve made millions of dollars from their performances at the olympics. For example, michael jordan, over ten years retired, made $90m in 2013 — possibly more than all of the athletes in the sochi 2014 winter olympics combined — and more than every other active professional athlete individually. The only income some olympic athletes may earn is by winning a gold, silver, or bronze medal.
To Do This, They Sponsor Selected Athletes And Provide Them With Steady Stream Of Income Sometimes Reaching Millions Of Dollars.
Larger companies such as nike, nokia, adidas, gatorade, and many others want consumers to associate their products with high performing athletes. The majority of olympic athletes earn their living to a combination of sponsorships and commercial endorsements, supplemented by their medal bonuses and, in certain cases, annual stipends. Most of the money olympic athletes earn come from corporate sponsorships.
The Bad News Is, Only The Best And Most Famous.
Olympic athletes can also apply for special grants, including college tuition assistance through the sopc’s athlete career and education program. If you live near an olympic training center, there’s a chance you are interacting with an olympic athlete in disguise. For example, a gold winner for team usa would clinch $37,500 for.
Us Olympians Used To Have To Pay As Much As $8,900 In Taxes On A Gold Medal Bonus.
Some websites erroneously report that olympic athletes make $25,000 for a gold medal, $15,000 for a silver and $10,000 for a bronze. It’s safe to assume most olympic athletes compete for the love of the game. There is a ton of money to be made at the olympics, even in a year like this.nbc has paid $7.7 billion for broadcasting rights to show the.
Remarkably, Most Olympians Earn Nothing For Taking Part In The Games, According To Finance Website Money Under 30.
A 2012 cnn report states most american olympic athletes make $15,000 or less. Olympians make a good chunk of money from winning medals. You see, the thing is, olympic athletes aren’t salaried employees.