Olympic Gold: Bringing National Pride and Personal Wealth

As noted in Derek Dodd’s blog post on McKayla Maroney’s sponsorship by the Dr. Pepper Snapple Group, an Olympic medal does not only bring personal pride to win for one’s country, but also a pay day. The United States Olympic Committee offers $25,000 for a gold, $15,000 for a silver, and $10,000 for a bronze (however these number pale in comparison to other nations such as Italy who pay a staggering $182,400 to a gold medal winner). The United States women’s gymnastics’ team, dubbed the ‘Fierce Five’, was quite successful at the 2012 London Games and was led by Gabby Douglas who won two gold medals. In the weeks following the 2012 London Olympic Games, Gabby Douglas appeared on virtually every late night talk show, Good Morning America, and began obtaining lucrative sponsorship deals. Douglas’ first deals were with Kellogg’s Cereal and Proctor and Gamble (one of the major sponsor of the Olympics) and she has the potential to earn up to $100 million over her lifetime. To me that number seemed rather inflated, but when digging deeper, $90 million of that comes from a contract with Kellogg’s and she currently has over thirty other contracts worth approximately $2.4 million. That still may leave $7.6 million to be made in the coming years which will easily be attained if she can make it to the 2016 Olympic Summer Games in Brazil. I find it remarkable how over the span of sixteen days someone’s life can be transformed forever – not only financially, but Gabby Douglas will go down in history as the first African- American women to ever capture the Olympic All- Around gymnastics’ title. Quite an accomplishment by someone who is just sixteen years old.

1 thought on “Olympic Gold: Bringing National Pride and Personal Wealth

  1. Olympic sponsorship apparently has huge payoffs – makes me wish I was actually good at sports! Do you think its more beneficial for a company to sponsor a major athlete for a national league, or an Olympic athlete?

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