How much olympians paid

Athletes from bigger, more competitive countries receive stipends or training grants from their national sports associations. Top performers collect prize money by winning national and international tournaments. Others draw regular salary by holding a variety of jobs. Some, like U. Most Team USA athletes are not represented by sports agents and some have no sponsors or endorsements at all, according to a Forbes report. A handful of athletes may score multimillion dollar endorsements or sponsorship deals, either before competing at the Olympics or after achieving success in the Games.

Parthasarathi pointed out that one profitable career move for some athletes is to go into coaching after retirement as people are willing to pay a premium for former Olympians. NBC Olympics is the U. Olympic athletes can also earn money from endorsements. For example, American gymnastics star Simone Biles, who won four gold medals at Rio , is one of international Olympians in Tokyo who are being supported by Visa. Furthermore, she recently parted company with sportswear giants Nike to sign a sponsorship deal with Athleta, part of the clothing company Gap.

However, many Olympians who have not reached the levels of prominence enjoyed by the likes of Biles and Bolt are not able to count on endorsements for income - and have a much tougher time getting by. This month, American sprint kayak athlete Shaye Hatchette told Vice of the financial difficulties she has faced in her bid to reach Tokyo , and the challenge of earning as an Olympian.

Winning a gold , silver or bronze medal is the reward for years of sacrifice and gruelling training sessions hidden from the public gaze. But that money is not being shared with the 11, athletes taking part in the Olympics, or the 4, at the Paralympics. Some countries, mostly those who win very few medals, are much more generous with their prize money, according to moneyunder Securing a bid to the Olympics is, by design, no easy feat.

Our redesigned local news and weather app is live! Download it for iOS or Android — and sign up for alerts. Team USA Aug 8. Team USA Aug 7. Why do Olympians bite their medals? The answer to that and more as we take a deep dive into the history of Olympic medals. All Summer Olympic medals feature the same Greek goddess: Nike, the goddess of victory. Watch to learn why this figure of ancient Greek mythology became a fixture in the Olympic Summer Games.

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