Tweet
Complete story:
http://www.jamaica-gleaner.com/glean...business1.html
Spending their millions: Athletes challenged to slow down
published: Sunday | September 21, 2008
Avia Collinder, Gleaner Writer
Olympic 100- and 200-metre record holder, Usain Bolt.
Gilded by their world-beating performances at the Olympics, Jamaica's top athletes can now earn millions in prize money, appearance fees and endorsement deals.
Bolt is the top earner in Simm's Pace Sports Management, which has a stable of about 85 international athletes.
In Beijing, Bolt won gold medals in the 100m, 200m and 4x100m relay - all with world record times. For his efforts he received a reported £500,000 (US$$1,000,000) bonus payment from German shoe com-pany PUMA, with which he has an endorsement contract, as well as a brand-new BMW M3 motor car. In Jamaica, such a vehicle would retail for more than $10 million.
Other Jamaican athletes, including Olympic 100-metre winner Shelly-Ann Fraser and women's 200-metre gold medallist Veronica Campbell-Brown, also have endorsement agreements with the shoe company.
But it is not only through such deals that athletes can earn sizeable sums. The elites among them can collect sizeable appearance fees from venues and meets, including six Golden League Meets and nine Grand Prix meets. In addition, there are also eight Super Grand Prix meets as well as 11 Grand Prix II meets.
An athlete who appears in each of the 34 meets, earning US$100,000 for each, could gross US$3.4 million (J$204 million) in a season. There is also a US$1 million bonus for the winner of each event at all six Golden League meets, potentially bringing that figure to US$4.4 million (J$264 million).
There is also money to be earned for breaking records. Following the Olympics, European track-meet organisers were polishing the gold bars in anticipation of new records. At the Weltklasse meet in Zurich, organisers were promising a kilogram (2.2 pounds) of gold and prize money worth a combined US$93,000 if Bolt broke his 100-metre world record of 9.69 seconds.
At the Athletissima meet in Lausanne, another gold bar worth around US$27,000 was on offer if Bolt improved on his newly minted 19.30 mark in the 200 metres.
Weltklasse was also offering a US$50,000 record bonus on top of US$16,000 for winning a race.
Commentators have noted that some of those on the international circuit who earn at this level waste their income, some spending lavishly on fast cars, gaming, clothes, parties, and other luxuries.
management by government
http://www.jamaica-gleaner.com/glean...business1.html
Spending their millions: Athletes challenged to slow down
published: Sunday | September 21, 2008
Avia Collinder, Gleaner Writer
Olympic 100- and 200-metre record holder, Usain Bolt.
Gilded by their world-beating performances at the Olympics, Jamaica's top athletes can now earn millions in prize money, appearance fees and endorsement deals.
Bolt is the top earner in Simm's Pace Sports Management, which has a stable of about 85 international athletes.
In Beijing, Bolt won gold medals in the 100m, 200m and 4x100m relay - all with world record times. For his efforts he received a reported £500,000 (US$$1,000,000) bonus payment from German shoe com-pany PUMA, with which he has an endorsement contract, as well as a brand-new BMW M3 motor car. In Jamaica, such a vehicle would retail for more than $10 million.
Other Jamaican athletes, including Olympic 100-metre winner Shelly-Ann Fraser and women's 200-metre gold medallist Veronica Campbell-Brown, also have endorsement agreements with the shoe company.
But it is not only through such deals that athletes can earn sizeable sums. The elites among them can collect sizeable appearance fees from venues and meets, including six Golden League Meets and nine Grand Prix meets. In addition, there are also eight Super Grand Prix meets as well as 11 Grand Prix II meets.
An athlete who appears in each of the 34 meets, earning US$100,000 for each, could gross US$3.4 million (J$204 million) in a season. There is also a US$1 million bonus for the winner of each event at all six Golden League meets, potentially bringing that figure to US$4.4 million (J$264 million).
There is also money to be earned for breaking records. Following the Olympics, European track-meet organisers were polishing the gold bars in anticipation of new records. At the Weltklasse meet in Zurich, organisers were promising a kilogram (2.2 pounds) of gold and prize money worth a combined US$93,000 if Bolt broke his 100-metre world record of 9.69 seconds.
At the Athletissima meet in Lausanne, another gold bar worth around US$27,000 was on offer if Bolt improved on his newly minted 19.30 mark in the 200 metres.
Weltklasse was also offering a US$50,000 record bonus on top of US$16,000 for winning a race.
Commentators have noted that some of those on the international circuit who earn at this level waste their income, some spending lavishly on fast cars, gaming, clothes, parties, and other luxuries.
management by government
Comment