Most Olympic athletes face costly road
August, 6, 2012
8/06/12
11:27
AM ET
By
Kristi Dosh | ESPN.com
When Angel Bovee, a female boxer who fought to get the sport included in the Olympics for the first time, reaches out to companies to help other Olympians get jobs, the companies often respond along the lines of “Why would they need a job? Aren’t they millionaires?”
The Olympians represent our country on sports’ biggest stage, and the London Summer Games are expected to generate more than $7.3 billion in sponsorship revenue. We see Olympians all the time endorse companies like Nike and Kellogg’s. So they must be rolling in the dough, right?
Wrong. When the games are over, most American athletes will return home without the precious few big-money endorsements and will return to school or work and hope to be able to do it all again in four years.
The costs are high. Garret Weber-Gale, who won two swimming gold medals in 2008 as a member of the 4 x 100-meter freestyle and 4 x 100-meter medley relay teams, says he’s lucky because he’s been able to swim and train at his alma mater, the University of Texas, with his former college coach at no expense. And he did receive an endorsement deal with Speedo just ahead of the Beijing Olympics.
But even with free training and his endorsement, Weber-Gale says, “Being a swimmer is expensive. I spend $500 to $600 per month on groceries, maybe even closer to $700. I spend another $200 to $450 per month on massage therapy, a chiropractor and a professional stretcher. Then you’ve got living expenses, gas and all the other normal expenses.”
USA Swimming reimburses Weber-Gale $400 when he travels for a grand prix meet, but he says that doesn’t cover everything. “When I go out of town, it’s probably at least $1,000 for the flight and meals.”
USA Swimming also covers expenses for world championships and the Olympics. The sport is also unique in that it has a program that allows its 56 top athletes to receive a $3,000 monthly stipend in return for making appearances on behalf of USA Swimming.
Yet the money a swimmer and his or her family will spend prior to having the chance to receive the stipend is considerable.
“If you’re a parent who wants to raise an Olympic swimmer you’re going to spend tens, if not hundreds of thousands of dollars,” says Weber-Gale, who missed qualifying for this year's team and is undecided about trying again for 2016. That doesn’t include the money spent on watching their child in meets and the Olympics, which he says could run to $30,000.
Most Olympians and their parents will admit the price tag is worth it, but what of the athletes who train like Olympians but never become one?
Angel Bovee worked as a television producer in Albany, N.Y., when she first began training for the Games.
“Being a boxer, you don’t get funded, especially when you’re not at the elite level. For my first 15 or so fights I flew myself -- no coach, no nothing. Just flew coach and then found someone to be in my corner once I got there,” says Bovee. Even if she won, regulations prevent Olympic-style boxing from having prize money. Fortunately, the television station where Bovee worked was supportive, and she was able to balance her paying job with boxing.
By 2002, Bovee knew if she wanted to compete at a higher level she’d have to put it all on the line. She couldn’t continue to work full time in Albany and get the training she needed. Women’s boxing wasn’t yet an Olympic sport, but there was hope it would be included in the 2004 Summer Games.
Bovee quit her full-time job as a television producer, took out a $15,000 loan and parked her Plymouth Sundance at the Poughkeepsie train station -- where she would live for the next six months until the weather forced her to find better shelter.
“During those six months, I got certified as a personal trainer and was able to get jobs in various gyms and train people in boxing and traditional personal training,” says Bovee. “It was 16-hour days of training people starting at 5 a.m. Then do your own training late morning and then another lunchtime session training other people and then you would train people when they got off work.”
Asked how she sought out sponsorships, Bovee says, “I didn’t really have any contacts. I actually got this book, “The Athlete’s Guide to Sponsorship,” and read it. I learned how to do my own website, I did my own photography -- everything I thought I would need to get myself out there.”
Bovee says she was never self-sufficient, but she did get a small sponsorship that helped pay for her travel to some of the week-long competitions. She represented the U.S. at the first two World Championships held for women, serving as team captain in 2002. Unfortunately, the International Olympic Committee declined to include women’s boxing in the 2004 or 2008 Summer Games, despite the sport having met the base thresholds for inclusion back in 2002. By the time it was included for London, Bovee had already exceeded the 35-year-old age limit for boxing.
Bovee spends her times these days working with Adecco Group, which formed a career management services partnership with the U.S. Olympic Committee to assist Olympians, Paralympians, coaches and hopefuls acquire job skills and find employment.
After she stopped training, Bovee landed a scholarship and returned to school to get her master’s degree. She ultimately found her way to Adecco.
“Our Olympic sponsor companies tend to be more on board because they already support the USOC in other ways,” said Bovee.
Other companies are beginning to catch on to the benefits of having Olympic athletes as employees, says Bovee. “When you’re the best in the world at something, those skills transfer. You know how to buckle down and focus and use your time efficiently.”
[+] Enlarge
AP Photo/Bob BukatyUnited States' Michael Phelps, Garret Weber-Gale and Jason lezak, bottom, celebrate winning the gold medal in the men's 4x100-meter freestyle relay at the Beijing 2008 Olympics in 2008.
AP Photo/Bob BukatyUnited States' Michael Phelps, Garret Weber-Gale and Jason lezak, bottom, celebrate winning the gold medal in the men's 4x100-meter freestyle relay at the Beijing 2008 Olympics in 2008. Wrong. When the games are over, most American athletes will return home without the precious few big-money endorsements and will return to school or work and hope to be able to do it all again in four years.
The costs are high. Garret Weber-Gale, who won two swimming gold medals in 2008 as a member of the 4 x 100-meter freestyle and 4 x 100-meter medley relay teams, says he’s lucky because he’s been able to swim and train at his alma mater, the University of Texas, with his former college coach at no expense. And he did receive an endorsement deal with Speedo just ahead of the Beijing Olympics.
But even with free training and his endorsement, Weber-Gale says, “Being a swimmer is expensive. I spend $500 to $600 per month on groceries, maybe even closer to $700. I spend another $200 to $450 per month on massage therapy, a chiropractor and a professional stretcher. Then you’ve got living expenses, gas and all the other normal expenses.”
USA Swimming reimburses Weber-Gale $400 when he travels for a grand prix meet, but he says that doesn’t cover everything. “When I go out of town, it’s probably at least $1,000 for the flight and meals.”
USA Swimming also covers expenses for world championships and the Olympics. The sport is also unique in that it has a program that allows its 56 top athletes to receive a $3,000 monthly stipend in return for making appearances on behalf of USA Swimming.
Yet the money a swimmer and his or her family will spend prior to having the chance to receive the stipend is considerable.
“If you’re a parent who wants to raise an Olympic swimmer you’re going to spend tens, if not hundreds of thousands of dollars,” says Weber-Gale, who missed qualifying for this year's team and is undecided about trying again for 2016. That doesn’t include the money spent on watching their child in meets and the Olympics, which he says could run to $30,000.
Most Olympians and their parents will admit the price tag is worth it, but what of the athletes who train like Olympians but never become one?
Angel Bovee worked as a television producer in Albany, N.Y., when she first began training for the Games.
“Being a boxer, you don’t get funded, especially when you’re not at the elite level. For my first 15 or so fights I flew myself -- no coach, no nothing. Just flew coach and then found someone to be in my corner once I got there,” says Bovee. Even if she won, regulations prevent Olympic-style boxing from having prize money. Fortunately, the television station where Bovee worked was supportive, and she was able to balance her paying job with boxing.
By 2002, Bovee knew if she wanted to compete at a higher level she’d have to put it all on the line. She couldn’t continue to work full time in Albany and get the training she needed. Women’s boxing wasn’t yet an Olympic sport, but there was hope it would be included in the 2004 Summer Games.
Bovee quit her full-time job as a television producer, took out a $15,000 loan and parked her Plymouth Sundance at the Poughkeepsie train station -- where she would live for the next six months until the weather forced her to find better shelter.
“During those six months, I got certified as a personal trainer and was able to get jobs in various gyms and train people in boxing and traditional personal training,” says Bovee. “It was 16-hour days of training people starting at 5 a.m. Then do your own training late morning and then another lunchtime session training other people and then you would train people when they got off work.”
Asked how she sought out sponsorships, Bovee says, “I didn’t really have any contacts. I actually got this book, “The Athlete’s Guide to Sponsorship,” and read it. I learned how to do my own website, I did my own photography -- everything I thought I would need to get myself out there.”
Bovee says she was never self-sufficient, but she did get a small sponsorship that helped pay for her travel to some of the week-long competitions. She represented the U.S. at the first two World Championships held for women, serving as team captain in 2002. Unfortunately, the International Olympic Committee declined to include women’s boxing in the 2004 or 2008 Summer Games, despite the sport having met the base thresholds for inclusion back in 2002. By the time it was included for London, Bovee had already exceeded the 35-year-old age limit for boxing.
Bovee spends her times these days working with Adecco Group, which formed a career management services partnership with the U.S. Olympic Committee to assist Olympians, Paralympians, coaches and hopefuls acquire job skills and find employment.
After she stopped training, Bovee landed a scholarship and returned to school to get her master’s degree. She ultimately found her way to Adecco.
“Our Olympic sponsor companies tend to be more on board because they already support the USOC in other ways,” said Bovee.
Other companies are beginning to catch on to the benefits of having Olympic athletes as employees, says Bovee. “When you’re the best in the world at something, those skills transfer. You know how to buckle down and focus and use your time efficiently.”

- SportsBizMiss Kristi Dosh
.@tonyagolini I didn't choose the cover, publisher did. Based on use of detailed UF financials as example in the book.
7 minutes ago
- SportsBizMiss Kristi Dosh

- SportsBizMiss Kristi Dosh
RT @Buster_ESPN: Cool story about how a college baseball team helped out a little boy in distress. http://t.co/gomfd51m7K
14 minutes ago
- SportsBizMiss Kristi Dosh

- SportsBizMiss Kristi Dosh
RT @MelissSilberman: Just pre-ordered @SportsBizMiss' book Saturday Millionaires. Discusses the business side of college fball. #Gators mad…
33 minutes ago
- SportsBizMiss Kristi Dosh

- SportsBizMiss Kristi Dosh
RT @TulaneSportsLaw: Fehr: Players and owners trying to negotiate about the int'l draft right now. That provision is in the CBA #SLAC13
42 minutes ago
- SportsBizMiss Kristi Dosh

- darrenrovell darren rovell
More than 500 lbs of beef will be served on the Pimlico infield by @ccitygourmet today http://t.co/IM4CUUzTly
45 minutes ago
- darrenrovell darren rovell

- SportsBizMiss Kristi Dosh
RT @AP_Sports: Wrestling fans: FILA approves rules changes in bid to keep sport in Olympics, the details: http://t.co/C95SASt2yU #APOlympics
49 minutes ago
- SportsBizMiss Kristi Dosh

- darrenrovell darren rovell
Crab cakes at Pimlico today (via @westpointtbred) http://t.co/GX4cpbH7DS
53 minutes ago
- darrenrovell darren rovell

- darrenrovell darren rovell
Joel Rosario, who will ride Orb in the Preakness, will ride Wes Welker’s horse Undrafted in the 6th race today.
about an hour ago
- darrenrovell darren rovell

- darrenrovell darren rovell
Winner of the @PreaknessStakes Jager Bikini Contest http://t.co/k1QkYJsp5w
about an hour ago
- darrenrovell darren rovell

- darrenrovell darren rovell
Busiest guy today: Man in this septic truck on the infield at the Preakness (H/T @man_o_pr) http://t.co/DWaQe9sB42
about an hour ago
- darrenrovell darren rovell

- SportsBizMiss Kristi Dosh
If you live in Minnesota and smoke, you might be helping to fund the #Vikings new stadium: http://t.co/lOL4KWbL3z.
about an hour ago
- SportsBizMiss Kristi Dosh

- darrenrovell darren rovell
The @PreaknessStakes infield: A 10am Bikini contest sponsored by @JAGERMEISTER_ http://t.co/YWQNCHq1P5
about an hour ago
- darrenrovell darren rovell

- SportsBizMiss Kristi Dosh
RT @Shane_Hinckley: Oct 19 Aggie Fans! “@SportsBizMiss: My tentative book tour schedule is now up for #SaturdayMillionaires: http://t.co/AD…
about an hour ago
- SportsBizMiss Kristi Dosh

- darrenrovell darren rovell
From 8am-noon, there’s a Bud/Bud Light draft special on the Pimlico infield. 16 oz cups for 2 BUCKS each.
about an hour ago
- darrenrovell darren rovell

- darrenrovell darren rovell
Yes, a Bacon Shell taco is available at Pimlico for the Preakness today (H/T @man_o_pr) http://t.co/2t6IZYUUei
about an hour ago
- darrenrovell darren rovell

- SportsBizMiss Kristi Dosh
My tentative book tour schedule is now up for #SaturdayMillionaires: http://t.co/qeCgqqpi66.
about 2 hours ago
- SportsBizMiss Kristi Dosh

- SportsBizMiss Kristi Dosh
You can find out all you ever wanted to know about #SaturdayMillionaires on my new book website and even pre-order! http://t.co/YCsKWNwWnH
about 2 hours ago
- SportsBizMiss Kristi Dosh

- SportsBizMiss Kristi Dosh
RT @ChaddScott: 3 #MLB teams avg >40,000 fans per home game; 7 avg <20,000. Can you name them? Answer coming in 5 minutes #sportsbiz
about 2 hours ago
- SportsBizMiss Kristi Dosh

- SportsBizMiss Kristi Dosh
If you're on GoodReads you can now add #SaturdayMillionaires (my biz of cfb book) to your "Want to Read" list! http://t.co/DQNHVoTp8D
about 2 hours ago
- SportsBizMiss Kristi Dosh

- darrenrovell darren rovell
Phelps comeback conspiracies abound. Big platform in tomorrow. Preakness. Hometown. Under Armour has tent. Agent has jockey as client.
about 14 hours ago
- darrenrovell darren rovell

- darrenrovell darren rovell
96% of ESPN viewing is done live (via @ESPNResearch)
about 15 hours ago
- darrenrovell darren rovell

- darrenrovell darren rovell
Italian business federation FIPE is reporting a shortage of 6,000 pizza makers in Italy. Pizza demand has skyrocketed w/recession.
about 16 hours ago
- darrenrovell darren rovell

- darrenrovell darren rovell
It’s Cuban Heritage Night for the Marlins tonight. Not sure that will help attendance much.
about 16 hours ago
- darrenrovell darren rovell

- SportsBizMiss Kristi Dosh
RT @Braves: More than 700 lady #Braves fans are out here enjoying the sold out Girl’s Night Out event at Turner Field! #girlsrock http://t.…
about 17 hours ago
- SportsBizMiss Kristi Dosh

- SportsBizMiss Kristi Dosh
RT @ChaddScott: Ad for Derrick Henry autograph signing doesn't mention any charge so should be ok w/ NCAA http://t.co/1sYJsKaWw1
about 17 hours ago
- SportsBizMiss Kristi Dosh

- darrenrovell darren rovell
Aloud? RT @ES14_ I have decommited from Vanderbilt, I want to play both sports and I won't be aloud to do that there.
about 18 hours ago
- darrenrovell darren rovell

- SportsBizMiss Kristi Dosh
Cam Newton has a new clothing line and a winning season could make him a marketing superstar. My latest piece: http://t.co/WoUrPqREwt.
about 19 hours ago
- SportsBizMiss Kristi Dosh

- darrenrovell darren rovell
Default font. Play it safe RT @shawnksullivan Why do so many young people use Times New Roman on their resume?
about 19 hours ago
- darrenrovell darren rovell

- darrenrovell darren rovell
A gamer's groom's cake (via @gamesfreezer) http://t.co/99zcH02QE3
about 19 hours ago
- darrenrovell darren rovell

- darrenrovell darren rovell
David Beckham signing his ManU contract on May 2, 1989, on his 14th birthday http://t.co/1Sm1bdhjrK
about 19 hours ago
- darrenrovell darren rovell

- darrenrovell darren rovell
Adidas made these shoes for David Beckham to wear for his final home game tomorrow http://t.co/iMMHxhmWLe
about 19 hours ago
- darrenrovell darren rovell

- darrenrovell darren rovell
Steve Ballmer doesn’t get his NBA team in Seattle, but @forbes says from 4/11 to 5/1 his net worth increased by $1.3 billion.
about 19 hours ago
- darrenrovell darren rovell

- darrenrovell darren rovell
Behold the Crab Pretzel ($7) they are selling at the Preakness (via @man_o_pr) http://t.co/qVd6V7MEsr
about 20 hours ago
- darrenrovell darren rovell

- darrenrovell darren rovell
A cake made for Toronto Maple Leafs fans http://t.co/FeTmRZNXjq (via @seedsy19, @HockeyGods)
about 21 hours ago
- darrenrovell darren rovell

- darrenrovell darren rovell
The guys @BovadaLV have really posted this Tim Tebow prop (H/T @emandelkern) http://t.co/s0fGlowNWV
about 21 hours ago
- darrenrovell darren rovell

- darrenrovell darren rovell
The Triple Crown @Orioles games: Hot dog, thick cut bacon and pulled pork http://t.co/jeWjdMpXS5 (H/T @BMOREBrian)
about 22 hours ago
- darrenrovell darren rovell

- darrenrovell darren rovell
Yes, the Preakness has a Jaegermeister tent http://t.co/bBVxhYrxaL
about 22 hours ago
- darrenrovell darren rovell

- darrenrovell darren rovell
Here’s the view at the Preakness from the @GreyGoose tent http://t.co/FfgwNyvbOA (via @Man_o_PR)
about 22 hours ago
- darrenrovell darren rovell

- darrenrovell darren rovell
Quite the promotional piece from @redbull for the Lucas Oil Pro Motocross Championship http://t.co/R0U4jSb0aW
about 22 hours ago
- darrenrovell darren rovell

- darrenrovell darren rovell
Josh Harris, who buys low and sells high for a living, bought the 76ers for $280M less than a year and a half ago. Wow.
about 23 hours ago
- darrenrovell darren rovell

- darrenrovell darren rovell
Heads Up: Powerball jackpot at $600M now.
about 23 hours ago
- darrenrovell darren rovell

- darrenrovell darren rovell
The @Brewers are selling “The Beast”: A hot dog & brat wrapped in bacon on a pretzel roll http://t.co/hHy6pclHQB (H/T robbiexor)
about 23 hours ago
- darrenrovell darren rovell

- darrenrovell darren rovell
In 1947, Bobby Thomson signed an endorsement deal w/MacGregor-Goldsmith to use his name on its sporting equipment. He was paid $1.
about 23 hours ago
- darrenrovell darren rovell

- darrenrovell darren rovell
POLL RESULTS suggest people are either very interested in the Preakness or have no interest at all http://t.co/eHZk7UDqR9
1 day ago
- darrenrovell darren rovell

- darrenrovell darren rovell
Classic Yogi Berra Miller Lite ad http://t.co/Yj8Sk9cPpy
1 day ago
- darrenrovell darren rovell

- darrenrovell darren rovell
POLL: How interested are you in the Preakness this weekend? #VERY #SOMEWHAT #NOTATALL
1 day ago
- darrenrovell darren rovell

- darrenrovell darren rovell
MUST SEE: Best office putt ever made http://t.co/K1wV9DW8s3 (H/T @HashtagChad)
1 day ago
- darrenrovell darren rovell

- SportsBizMiss Kristi Dosh
RT @bylawblog: It's not just coaches. How it takes a village to cut an athlete's scholarship: http://t.co/nzGORjt086
1 day ago
- SportsBizMiss Kristi Dosh

- SportsBizMiss Kristi Dosh
Rory McIlroy leaving Horizon Sports to set up his own management company with family and friends? http://t.co/c4PTP1y3FK.
1 day ago
- SportsBizMiss Kristi Dosh

- darrenrovell darren rovell
MT @dougferguson405 Rory McIlroy changing agents for 2nd time in 2 years. Setting up his own shop, involving dad, close associates.
1 day ago
- darrenrovell darren rovell



ESPN SPORTS BUSINESS ON TWITTER
You must be signed in to post a comment