Just curious, but are all costs covered for the horses and riders that qualify for the Olympics? I know the cost of getting to the point of even qualifying is insane but once you make is everything covered?
Someone asked me this the other day and I had no idea!
Nope.
From Eventing Nation:
The USEF has funded Arthur’s round trip, as they did all they all the short-listed horses
yes but not all costs are covered. Transportation is…and that is a big one.
Not covered is the income is given up in the short term by the riders and other costs that the riders are spending to keep their other horses/business going while they are away. It would be why Boyd and Phillip got on a plane the next day…and will be at an event tomorrow.
I was wondering that too when I saw TV ads for VISA, United Airlines and Citi claiming they “sponsor” the Olympic athletes or some such thing.
What do those companies do for the athletes?
I know that the single horse drivers that are preparing for the World Championships in Italy get a pittance (if that) from the USEF. My friend that is going said that it is going to cost her almost $50K to go…
And to add insult to injury, US medal winners have to pay taxes on the honorium they get AND the value of the metal in the medal.
Go IRS!
When it comes to funding, there certainly is not a level playing field between sports or countries. It is not necessarily the best athletes that go.
I never knew that until they mentioned it on the Today Show this morning, that is terrible.
I read that for Hong Kong the team transported the horses, and their stabling was covered … I don’t know how the feed worked. Read that each rider rec’d $5,000 for their own expenses. From that they covered travel, lodging (how many days?) food, everything.
[QUOTE=MyGiantPony;6473213]
And to add insult to injury, US medal winners have to pay taxes on the honorium they get AND the value of the metal in the medal.
Go IRS![/QUOTE]
The ‘honorium’ is $25K for a gold medal. So yeah, they pay taxes. And many of the athletes are sponsored and/or have endorsement contracts. So I’m not understanding the pain that they have to pay taxes. If they are sports stars they have large incomes.
The value of the metal itself isn’t that much. Gold medals aren’t exactly 100% gold.
[QUOTE=S A McKee;6474598]
The ‘honorium’ is $25K for a gold medal. So yeah, they pay taxes. And many of the athletes are sponsored and/or have endorsement contracts. So I’m not understanding the pain that they have to pay taxes. If they are sports stars they have large incomes.
The value of the metal itself isn’t that much. Gold medals aren’t exactly 100% gold.[/QUOTE]
Seriously. Most transportation and lodging and expenses are covered for the bigger name riders and they get tons of press and coverage for their business. All sorts of owners want an Olympian to ride their horses and take it to the next Olympics. Clinic fees skyrocket so do endorsements by saddle makers, horse stuff makers, etc. They aren’t suffering.
Many, not most of the athletes have sponsorships/endorsements or private income. Most don’t.
In fact:
According to a survey from the USA Track and Field Foundation, only 50 percent of American track and field athletes who are ranked in the top 10 in the nation in their event earn more than $15,000 a year in income from the sport. Those not in the top 10 didn’t even make that.
http://dionrabouin.wordpress.com/2012/08/01/the-high-cost-and-low-pay-of-being-an-olympian/
So yeah, a $9000 tax bill when your income is $15,000 is pretty much a hardship. Especially considering so many countries give their medal winning athletes a BONUS, not a tax bill.
Indeed. One of the female weightlifters (from the USA) lives below the poverty line. :no:
By submitting your email, you agree to our Terms of Service and Privacy Policy. You may also receive promotional emails from The Chronicle of the Horse. You can opt out at any time.
For Customers
Company
Terms of Use
