RUNNING HER RACE in 22.05 seconds did not just earn Veronica Campbell an Olympic gold medal. That time may have also made her a potentially rich woman.
According to to the Website rightonthemoney.org, an athlete who wins a gold medal at the Olympics sometimes has a brand name created in his or her honour. In addition, there is usually a big cash bonus. For example, the shoe company which sponsors the athlete usually gives the winner of a medal a cash incentive.
Juliet Cuthbert, silver medalist in both the 100 and 200m in the 1992 Olympics supports the website's claim regarding what an athlete stands to gain from getting an olympic gold.
"As far as money goes they stand to gain a lot," she points out. "Each shoe company which sponsors an athlete gives that athlete bonuses to do well. There are also other endorsement deals," Cuthbert added.
At present, an athlete who wins a gold medal at the Olympics will receive a $US50,000 ($3,000,000) bonus. A silver medallist receives about $US20,000 ($1,200,000) while a bronze medalist may take home half of that figure. Hence, for her outstanding performance Campbell could take home as much as $US60,000 ($3,600,000).
Earning potential
But that amount of money represents just a drop in the bucket.
Cuthbert added that the athletes' earning potential on the Grand Prix circuit also increases with the winning of a medal.
"When you go to major meets like Zurich and Brussels you can now command an appearance fee if you weren't getting any before. Also, if you were getting an appearance fee you stand to earn more because you have something to show them that you deserve to be paid what you asked for," she said.
For example, an Olympian medallist who also has world records to his or her credit can command as much as $US100,000 per meet. Towards the end of his career, 200 and 400 metres world record holder Michael Johnson was said to be earning $US100,000 (6,000,000) for his appearance.
For 2004, the International Amateur Athletics Federation (IAAF) has several meets where athletes such as Campbell can make money. There are 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.
Appearance fee
That means an athlete who appears in each of the 34 meets, earning $US100,000 for each, could take home $US3.4 million ($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 $US4.4 million ($264 million).
That figure is more than what the average footballer, West Indian cricketer and several other sports stars will earn in a year.
And, apart from the international incentives, Campbell stands to gain money courtesy of the Jamaican government as well. US$12,000 for her gold medal, and an additional US$6,000 for her bronze medal in the 100 metres. And she will receive more money as a result of Jamaica's gold winning performance in the 4x100 metres relay.
An athlete without a medal still has a chance of earning big bucks as well. However, the athlete will not receive a bonus from his or her sponsor. Juliet Cuthbert told THE STAR that despite not medalling, Asafa Powell still stands the chance of earning an appearance fee.
"If your track record is still credible, meaning if you are running a good time, you can still ask for an appearance fee. If you are beating everybody for the whole season then you are still able to get an appearance fee. Also, if you have a good manager you can still get an appearance fee," she said.
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