FAQ's Playbook

Hours from now, we will witness the opening ceremony of the 2012 London Olympics. This is for sure an exciting event and seeing athletes from all parts of the world showing off their skills for the Gold Medal. We may know about their physical and comepetitive skills, but do we know about their challenges outside of sports?

We already know that every players on Team USA Men's Basketball Team are a bunch of millionaires just by being an athlete. We don't know how the rest of the athletes in other sports making a living.

Yes, obviously they probably make a living just being an athlete. Yes, players on the Team USA Men's Basketball Team are paid millions of dollars playing in the NBA - particularly the recent college drop-out Anthony Davis just signed a three year contract with the New Orleans Hornets worth $16 million. So meaning, other athletes should be getting as much as the same money, yes?!

WRONG

Unless you're Usain Bolt, Michael Phelps, or Jordyn Wieber where you can get tons of money from sponsorship deals and etc., you have limited means of income when you're an Olympian. Not to include Bolt (who's not playing for Team USA), Phelps and Wieber are US' top athletes and top on their respective sports. The US Olympic Committe, who throws $170 mil/year for all sports (training for players + health insurance), but it's only limited to top athletes and other potential money-generating athletes. What if you're an athlete not ranked Top 25 and and trying to make a name in the Olympics? While popular top athletes are receving $400K, not including sponsorship and commercial deals, and full access to training facilities provided by the US Olympic committee, the other athletes that are outside of Top 25 or so are only receiving from $0-$25K and they train probably using that money to compete for the US "Trials" alone. But you having to consider these: rent a training facility, hire a coach, grocery, house or car mortgage or house/apartment rent -- $25K ain't enough.

A few months ago, basketball superstar and now 2x NBA Champion Dwyane Wade said that Olympics athletes should get paid. After he made that comment, the man got slammed with criticisms of being unpatriotic by fellow Americans.

The US Olympic Committee will "pay" any of their athlete $25K if they get Gold Medal, $15 for Silver, and $10 for Bronze. Imagine if you're a no-name athlete and didn't win any medal. Oh well, thanks for representing our country and see ya in the trials in 4 years.

In the past 4 years, the IOC's revenue went up to $5 billion. This is a non-profit organization, like the Catholic Church, they don't pay taxes! While athletes are competing for the Gold Medal, IOC are making money from sponsorship, commercial, and TV deals! They are making money off from these people. I'd rather not mention the SLC Scandal.

You may not watch all of the events, but you see them at the Opening Ceremony, you should remember as those athletes especially the unpopular ones, are underfunded and often their talents are unappreciated by many. The very least we could do is support and appreciate for devoting their life for this Olympic event regardless which country they're from.

Read more:

U.S. Olympic Athletes Are Poor | SportsGrid

Olympic athletes face financial hardship - Jul. 10, 2012

International Olympic Committee earns $5 billion in revenue - The London Olympics - MarketWatch

Olympics 2012: London is ready to welcome the world to the Summer Games, but NBC's coverage will still be all about the red, white and blue - NY Daily News