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  1. #1
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    Dec. 9, 2011
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    Default Cost of going to the olympics

    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!



  2. #2
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    Oct. 13, 2002
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    Default

    Nope.



  3. #3
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    Mar. 1, 2003
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    Happily in Canada
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    From Eventing Nation:

    The USEF has funded Arthur's round trip, as they did all they all the short-listed horses
    Blugal

    You never know what kind of obsessive compulsive crazy person you are until another person imitates your behaviour at a three-day. --Gry2Yng



  4. #4
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    Jan. 19, 2005
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    PA
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    Default

    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.
    ** The difference between genius and stupidity is genius has its limits. -- Albert Einstein **



  5. #5
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    Oct. 23, 2004
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    Default

    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...
    Kanoe Godby
    www.dyrkgodby.com
    See, I was raised by wolves and am really behind the 8-ball on diplomatic issue resolution.



  6. #6

    Default

    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!
    http://www.tbhsa.com/index.html

    Originally Posted by JSwan
    I love feral children. They taste like chicken.



  7. #7
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    May. 4, 2003
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    Canada
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    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.
    Proud member of People Who Hate to Kill Wildlife clique



  8. #8
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    Jun. 29, 2004
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    Quote Originally Posted by MyGiantPony View Post
    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!
    I never knew that until they mentioned it on the Today Show this morning, that is terrible.



  9. #9
    Join Date
    Apr. 27, 2008
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    2,575

    Default

    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.



  10. #10
    Join Date
    Mar. 5, 2007
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    1,704

    Default

    Quote Originally Posted by MyGiantPony View Post
    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!
    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.



  11. #11
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    Oct. 5, 2008
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    The Wild West
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    Quote Originally Posted by S A McKee View Post
    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.
    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.



  12. #12

    Default

    Quote Originally Posted by S A McKee View Post
    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.
    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/201...g-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.
    http://www.tbhsa.com/index.html

    Originally Posted by JSwan
    I love feral children. They taste like chicken.



  13. #13
    Join Date
    Feb. 18, 2001
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    Default

    Quote Originally Posted by MyGiantPony View Post
    Many, not most of the athletes have sponsorships/endorsements or private income. Most don't.
    Indeed. One of the female weightlifters (from the USA) lives below the poverty line.



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