endorsements
The athletes who train for and compete in the Olympic games need to have financial resources behind them so they may pursue their lofty goals. Each sport has its own challenges. Athletes engaged in the winter sports arguably need more money that those engaged in summer activities. You may run 30 miles through the local park but can you do the half-pipe or other difficult snowboard maneuver anywhere?
Many countries have established organizations to provide financial support for the top athletes during training. According to SwimmingWorld, top American swimmers could receive a stipend of $24,000 per year to help them with living and training expenses.
Corporate America also helps athletes. Home Depot and Coca-Cola are just two companies that are known for hiring athletes, and not just as spoke persons. They are hired to do ordinary and every day jobs. Until 2009, Home Depot had a program where athletes could work part-time but receive wages based on a 40-hour week. That program, which began in 1992, helped 570 athletes who were competing in either the Olympics or Paralympics win 194 medals, of which 88 were gold. Speed skater Derek Parra, who won both a gold and silver medal during the 2002 games said, "If it weren't for this job with Home Depot, I wouldn't be skating. The company is really supportive and has allowed me to focus on skating, and I don't have to worry about working all night to pay the bills."
However, that is not where the real money comes from; the real pay-off comes from endorsements. Shaun White, arguably the best snowboarder ever, earned eight million dollars in 2009 through endorsements. He was a spokesperson for companies such as AT&T, Red Bull and Target. Lindsey Vonn, pocketed three million dollars by representing Under Armour, Proctor & Gamble, and Rolex, among others.
Apolo Ohno, the king of the short track, brought home 1.5 million in '09 courtesy of Coca Cola, Alaska Air, AT&T and others. In case you are wondering if only men score large sums, the answer is "no." South Korean figure skater, Kim Yu-Na, was tied for the top slot with Shaun White. Her eight million dollars came from an international smorgasbord of companies, ranging from Korea's own Samsung Electronics to AT&T.
Top athletes with big personalities may win the pot of gold, even if the Olympic gold eludes them.
Sponsers and endorsements. Haven't you seen 1 of the 500,000 Subway commercials that air daily with all the Olympic athletes?
most of them have regular jobs. the endorsements are only for famous, more popular athletes. look at the rest of them. do you see them on any commercials or speaking for any company?
i remember one olympics when home depot made a big deal about their worker(s) being in olympics
Sponsors, endorsements, advertising for companies like Nike. Most countries (or their Olympic committee) give their medal winners some kind of cash prize, too.
Endorsements
you dont make money from the olympics. pros make money through the government if they win a medal in a lot of countries. others make make money through endorsements and sponsors if they are pro. amateurs like missy franklin just have to eat it and not take the money in order to retain amateurism.
They might ge sponsorships in the form discounts from small manufacturers and then resell the products for profit.
Kind of like the Home Depot program only it is self-employment.
Promoting products and advertizing
Gabby(the gymnast) was approached by kellogs after she won gold to appear on the cereal boxes
If they win a medals they get money also endorsement deals.
Sell their medals on ebay. Simple as that.
How do Olympic athletes make money?
Sponsors. Simple as that.
endorsements
