Streams

How Exactly Do You Fund an Olympic Dream?

Thursday, February 20, 2014

Ross Kenneth Urken, personal finance editor at TheStreet, looks at the unique financial challenges Olympic athletes face, and the different ways they cover their costs.

A Bobsledder’s Out-of-Pocket Expense Report 

So you want to be an Olympic bobsledder? Here’s what one US athlete shells out for Olympian expenses.

     $6,000: one set of blade runners (Jamie Greubel has 4 for different ice conditions)

 +  $90: gym fee per use during pre-season

 +  $275/hour: ice house rental during training

 +  $300: flights during training

 +  $300: gear/supplies

 +  $350: ice spikes (aka snow cleats)

 +  $500: training gear

 +  $1,000: rental car  (+ $200 for gas)

 +  $1,000: vitamin/dietary supplements

 +  $1,050: visits to a chiropractor/massage therapist

 +  $1,900: lodging during pre-season

 -   $1,000/month stipend from Team U.S.A. 

 -   $3000 through crowdfunding (out of $17,000 goal)

 =   TOTAL: approximately  $15,000 - $20,000 per year.

(Adapted from Ross Kenneth Urken's reporting)

Guests:

Ross Kenneth Urken

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Comments [2]

Tera Feigen from Watchung, NJ

My father, Howard Clifton, was a bobsledder in the '68 Olympics. I was 4 years old at the time. My dad worked full-time to support us, bought a used sled, fixed and took care of it in our garage, and practiced every single weekend at Lake Placid. He worked his tail off, basically. That's how he did it. :)

Feb. 20 2014 11:44 AM
John A

You mean athletes have to spend 50% of their time on fundraisers too? Thank god there are no Olympics attack ads...

Feb. 20 2014 11:29 AM

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