For many Olympic athletes, making a living means relying on sponsorships and prize money from competitions. Here's a breakdown of how Olympians earn money and how much.
For many athletes — about one-third of those polled by the USPOC — making a living primarily through sponsorships and prize money from competitions, both of which were thrown into limbo throughout a pandemic-altered year that delayed the 2020 Tokyo Olympics and canceled many other competitions.
Athletes caught receiving money in the early days of the Olympics were blacklisted. Notably, Jim Thorpe was stripped of his gold medals in the classic pentathlon and decathlon after it was discovered that he had received small payments as a professional baseball player two years prior to the Olympics. Supporters of Thorpe successfully argued that the IOC didn’t follow its own rules ofThorpe’s children were eventually awarded two commemorative medals, nearly 30 years after his death in 1953.
The 1992 Games in Barcelona ushered in the new era of Olympic competition, headlined by the Dream Team,Do any winter sports still not allow professionals to compete at the Olympics? In response to surging COVID-19 cases this past winter that caused a series of game cancellations and postponements throughout the league, the NHLFor the past 30 years, NHL participation at the Olympics has been volatile, depending largely on scheduling, financial support by the league and cooperation of the team owners.
It’s akin to how leagues like the NFL and the NBA don’t pay players; instead, individual teams in the league are responsible for providing compensation. Unlike within those leagues, which have minimum salaries that teams must meet, there are no Olympics-wide requirements for paying athletes. Instead, the onus rests on individual nations or private parties.
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