Why Olympians Are So Broke | Big Business

Across the US, Olympic athletes are working part-time jobs, driving for DoorDash and Uber, and crowdsourcing funds. We break down how USA Olympians make money, and why the system left many of America’s top athletes broke.

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Why Olympians Are So Broke | Big Business

[gummy]

This is why most athletes in "niche" sports seem to always have a supportive, loving family. A big portion of their livelihood as a world class athlete depends on their families' assistance to make their dreams possible.

[yuchenwang]

Imagine getting food delivered to you by a gold medalist

[FinancialShinanigan]

Like essential workers, Olympians get paid with cheers and claps.

[veevee]

I like that they highlighted the USA Women’s Water Polo team. They just won their third CONSECUTIVE gold medal in Tokyo, and Maggie Steffens is the top scorer in Olympic WWP history. She is a living legend of the sport at only 28. For them to be earning so little while being literally the best in the world is a travesty.

[jetpham]

Now we see another reason for why so many winners end up just bawling their eyes out....cuz now they can finally pay back their parents cry

[paolabueso]

I’m so glad people are talking about this situation. It’s super tough for these amazing athletes.

[Just-SomeGuy]

The government be like, “thanks for giving our country all the glory and bringing in tourists to help make us money. Here’s a pat on the back.”

[ZhangtheGreat]

This is why I will never fault an athlete for "jumping ship" to another country to compete. If the other country can land the athlete the financial benefits (and security) they desire, go for it.

[ktchpmn]

So you're telling me that the Olympics, which effectively forces host countries to spend billions of dollars on new venues, is exploitive of the athletes? Color me shocked

[chocc]

This is why the UK does so well in Olympic medal tables of late. After a terrible performance in 1996 the UK government started funding our athletes and the teams around them with the profits of the national lottery meaning they can train full time, not have to pay for coaches and get paid for training

[wkdhrgwiyagcgjne]

So you’re telling me the government gives out medal bonuses and used to tax on those bonuses?!

[TheAwareHuman]

It’s incredible that USA earned as many medals as it did, if this is the level of financial support that is given to athletes.

[thLilJinx]

Yeah singapore pays 1, 000, 000 for gold, but I guess that's also because we've only ever had ONE gold olympian and that was in 2016. US on the other hand gets tons of gold medals every olympics

[jungookookie]

I cant believe world class athletes from a country as big and prosper as the USA doesn’t get government funding. Even developing countries fully support their athletes at the Olympics.

[sarthakjain]

Damn i always thought they are well paid for representing their country and their hardwork

[Rod.Machado]

no wonder why china is catching up with the quality of athletes, alot of unlocked potential in the US, steeered away due to lack of financial support.

[Kenny]

as a Team USA athlete for a small, unpopular Olympic sport (Canoeing) who has been trying to make the Olympics for the last 10 years, this hits really close to home. we make $0 from our NGB and Olympic committee because of how unpopular our sport is UNLESS you are on the podium. but how do you make the podium if you can’t make any money to support your training? it’s the ultimate catch 22

[supingo]

In Slovenia every athlete that wins a medal at olympics or some world cup is litteraly considered a hero and gets sooo many sponsorships example Pogačar and Roglič in cycling and the baskedball team when they won the EuroBasked

The ones that earn the most from sponsorhips here are mostly winter sports athlets because skiing and skijumping is really big around the Alps

[Laurenafenete]

I saw the pile of sabre fencing kit and was like of course fencing is featured here
Fencing is so expensive 😭

[funme]

The IOC should be paying the athletes. It’s no different than the NCAA making all that money off of the college athletes and not paying them. The IOC makes plenary of money but doesn’t pay their talent. It’s great if you can play a game and make money at it. If not, I have a hard time taking money that could be used for children or other necessities to give to athletes. If you are in business you need to make money. My mom has been a nurse for 50yrs and the government isn’t subsidizing her uniforms and foot massages, not to mention PPE during the pandemic.