Why Olympic Athletes Are Poor

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July in Paris: 10,000 athletes float down the Seine for the 2024 Olympics opening ceremony, while nearby, McDonald's workers flip burgers. Who earns more? Surprisingly, the McDonald's worker makes almost 50% more than the average Olympian.

Despite filling stadiums and generating billions in sponsorships, Olympians receive no money from the International Olympic Committee, even for gold. Why is that, and how do athletes make money? This video dives into the financial struggles of Olympians, from ancient Greece (where athletes competed naked—talk about cutting costs!) to modern-day sponsorships.

We uncover the business behind being an Olympic athlete and explore the evolution of the Games, the impact of amateurism, and the modern financial landscape for athletes.

⏱ Timestamps
0:00 The Business of Being an Olympic Athletes
01:00 The History - From Olives to Gold
08:10 How Athletes Make Money
12:28 The Problem: Rule 40
15:51 The Future

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Athletic Interest is a video essay series that investigates business stories from the world of sports.

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#olympics #paris2024 #business

[Amstro]

In short, IOC doesn't want the athletes getting rich, they only want for themselves to get rich

[cedricbrs]

Just leaving that here:

Jesse Owens, the American track and field athlete who won four gold medals at the 1936 Berlin Olympics, is often remembered for his interaction with Adolf Hitler. During the games, Hitler was initially seen congratulating some athletes but did not greet Owens or other non-German athletes.

However, Owens later expressed that he did not feel personally slighted by Hitler. In interviews, Owens recounted that Hitler waved at him, and he waved back, interpreting the gesture as a form of recognition. Owens also remarked that while Hitler's failure to personally congratulate him was noticeable, he felt more snubbed by U.S. President Franklin D. Roosevelt, who did not invite him to the White House or publicly acknowledge his achievements.

[RealLaone]

Poverty and lack of resources has stolen so much greatness from the world. I wonder what talent, intelligence and creativity we would've seen if everyone had a level field and support.

[rickyjayoculam]

That is why FIFA was created when Uruguay's Mens National Team became gold medalist in 2 straight Olympics that time and they gained nothing for amateurism sake...

[romanbost]

I remember going on a date with a girl here in the USA who was on the Olympic Taekwondo team. I started talking to her about what it looked like financially and she told me she was being paid only $1000 a month by USA Olympic team. I was shocked, and actually didn’t believe her until I really looked into it.

[lorte-filmdk]

This is exactly why i quit sailing. I had a real chance going to the olympics in the 49er class (2x danish champion) but working 3 jobs at once was too much on my mental health. It would cost me and my parter approxemetly 200k$ to qualify and that was with no guarantee that i would even go to the olympics. Sure it would be cool going to the olympics but especially sailors make almost no money. Its the 0.01% that can live on it. Me living in a dump and working my ass off + training every day wasnt worth it

[rycx]

5:23 Not a Nazi sympathiser but this is a famous misconception. 

Roosevelt was the one who disrespected Jesse Owens, not Hitler. Jesse Owens personally recounted how hitler nodded at him and he felt respected in Germany but still experienced racism in the USA including being ignored by Roosevelt.

[mdu__Africa]

Back in 2008 after the Beijing Olympics, I was in line with Eliot Mujaji, a gold medal paralympic 100m runner at a public hospital in Zimbabwe. He was in his wheelchair. Always wondered why.

[xkillx]

"if you become a ninja warrior ..." got me on my floor 💀

[Benwikimedia]

1984 in LA made a profit because they didn't build new fancy buildings and stadiums, they used The Forum, The Coliseum, and UCLA facilities and lots of others that already existed. Athletes stayed in the college dorms.

[BrianTanLive]

I remembered the Beijing Olympics swimming events were changed to be in the morning local time because NBC (who paid $$$$ for broadcast rights) wanted to maximise US viewership. Imagine having the Olympics in your backyard only for the medal events NOT be shown during peak after work hours because ONE country wanted to watch it. Oh and in the same games the IOC president criticised Usain Bolt's celebration during the 100m finals for showing "a lack of respect to other competitors" 🙄

[MiamiMarkYT]

I think in the USA we should allow for athletes to pay no taxes on prize and sponsorship money under $100, 000.00. Alleviating financial barriers to athletics is in the best interest of our country.

[WenSud]

the most hypocrite thing is, when IOC face difficulties with money they make an exclusive sponsorship deals as their solution, but when their athlete face it, they are not allowing it even make it worse with their rules. If they think money is also a doping, then IOC must be really high on these. And no surprises all these ideas to classify people starts from british again..Also, another great content Athletic Interest!

[Coolmike]

This is very sad, even the College athlete in Football and basketball makes more money than Olympic athletes 😕

[adrianblackwell]

Peter Norman got silver in that race. He was the one that suggested they shared gloves because Carlos forgot his. He’s the forgotten part of the most iconic image in Olympic history, and he suffered the rest of his life for it. Carlos and Tommie were pallbearers at his funeral.

[resteddy]

IOC is the worst organisation out of all organisations I must say :)

[EdgardoDiaz-EdBx]

This is mind-blowing that the US athletes that wins a gold medal receive $37, 000 what the hell is that 🤔 UNBELIEVABLE

[chaartimor]

This is, as usual, super clear, super instructive, narrated perfectly and very well crafted, thanks

[J-c-df]

My brother played in two Olympic events and gave up for this very reason

[bruhyihunbelay]

Ethiopian long distance legend, Haile Gebreselassie, is one of the richest people in Ethiopia. He owns businesses like a car assembly plant, a chain of hotels and resorts. Through the years, he had sponsorship deals with Adidas and Diageo.