Olympians are in the same group as millions of Americans affected by rising inflation.
US consumer prices 20% increase from 2021 onwardsThat summer, at the COVID-19-postponed Tokyo Olympics, U.S. athletes narrowly beat China, 39-38, to win more gold medals than any other country.
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But the run-up to the Paris Games over the past two years has been a different story financially.
“It’s the worst! Simply put, it’s the worst,” sprint silver medalist Fred Curley, 29, told reporters at the USA Track and Field Grand Prix on June 8, describing the economic situation facing U.S. Olympic athletes.
American athletes face even greater challenges than those in other wealthy countries because the U.S. government is one of the few in the world that does not pay Olympic athletes.
U.S. Olympians make their living from private sponsorships, merchandise sales, and medal bonuses from the United States Olympic and Paralympic Committee (USOPC), but the medal bonuses for U.S. athletes are limited to $37,500 for a gold medal, $22,500 for a silver medal, and $15,000 for a bronze medal.
United States athlete Fred Curley is pictured before the men’s 4x100m relay final at the IAAF World Championships in Athletics to be held in Budapest, Hungary in August 2023. (Sam Burns/Sportsfile via Getty Images)
“If I was from another country, I think I would be living like a king. But living in America, I see how the world and America functions domestically. A lot of us struggle on a daily basis,” Curley said.
When asked how rising inflation is affecting his team, Curley said he has seen many American athletes in his sport work day jobs to earn extra income.
“It’s hard to perform at your best every day while also working a day job,” he says. “They [making] For money or to do what you love.”
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Are financial burdens putting the U.S. team at a disadvantage in Paris?
“I think she’s a bit of a weirdo,” Tara Davis-Woodhall, 25, a track and field teammate of Currie’s, said during a roundtable interview at the USOPC Media Summit on April 17.
Asked if inflation would put American athletes at a competitive disadvantage in Paris, Davis-Woodhall said “probably, definitely,” and added, “It was expensive for athletes before, but now it’s super expensive and we’re not being paid.”
Financial burdens can also get in the way of athletes focusing on an optimal Olympic lifestyle, Davis-Woodhall said.
Tara Davis Woodhall of the United States spoke at a press conference in Paris on July 29, 2024. (Mike Lawrie/Getty Images)
Asked if she thought inflation could affect American athletes’ focus on their sport, Davis-Woodhall said, “I 100 percent agree. I know a lot of people who have second jobs, who are scraping together pennies and asking their parents for money or begging sponsors for more money.”
a Fox News Poll A survey conducted this month found that inflation has forced 76% of Americans surveyed to cut spending to cover basic living costs. By Fox Business’ calculations, food prices have risen 33.7%, housing costs 18.7% and energy prices 32.8%.
For professional athletes, food and groceries are not just a cost of living, they are an investment in performance and a necessary investment to stay competitive.
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Another young U.S. sprinter, silver medalist Kenny Bednarek, 25, feels the effects of inflation every time he buys food.
“Inflation and everything is skyrocketing. If you go grocery shopping, it’s already over $150 for just six items. If you want to be healthy, it costs more. You know, organic food is a business in America, so if you want to be healthy, you have to pay more,” Bednarek said in an interview at a roundtable at the USOPC Media Summit on April 17.
Kenny Bednarek is photographed after the men’s 200-meter final at the U.S. Olympic Team Track and Field Trials on June 29, 2024 in Eugene, Oregon. (Christian Petersen/Getty Images)
“I have a budget that I need and I can’t go over it. If I go over it’s not the end of the world, but if I go over it I’m in a bit of a bind.”
For athletes competing in lesser known sports, sponsorship deals are even rarer and basic living conditions are even harder to obtain.
Female boxer Morelle McCain (29 years old) will make her Olympic debut in Paris. In 2019, she trained while working as a birthday party clown to make ends meet. She has also worked several other side jobs, including at a daycare center and a mental health center. She has been boxing since she was 17 years old and qualified to compete in the Olympics for the first time this year.
But even after qualifying for the Paris Games, competing in the 2022 World Championships and winning one gold and two silver medals in three international competitions in 2023, paying the rent will still be a struggle.
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“I remember when I graduated from college rent was pretty affordable. Now it’s like you need a roommate just to live,” McCain said in an interview during a roundtable discussion at the USOPC Media Summit on April 15.
She also said these increasing expenses are distracting her from focusing on boxing. “Especially mentally. You know, ‘Oh, the bills are coming up,’ but when you have responsibilities to earn a living, eat and sleep, you have to take a break from the fight. It’s tough.”
Meanwhile, taekwondo athlete CJ Nicholas agreed that keeping up with inflation was hindering the sport.
“When it comes to the housing market, you can’t rent a house because of taekwondo. But my mom has been a huge help. She has a really good credit score,” Nicholas said in an April 15 roundtable interview.
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Members of the U.S. team float down the Seine River with a view of the Eiffel Tower in Paris during the Opening Ceremony of the Summer Olympics on July 26, 2024. (AP Photo/Ashley Landis/Pool)
The U.S. team’s financial difficulties don’t just seem to be a problem for the players.
USOPC CEO Sarah Hirshland told reporters in a roundtable interview at the commission’s media summit on April 15 that inflation not only affects athletes but the entire organization associated with the USOPC.
“The inflationary environment is something that everybody is feeling. Athletes are human beings first. They feel it just like everybody else feels it. All of our organizations feel it,” Hirshland said. “We’re all feeling it.”
The United States is currently in sixth place in terms of total gold medals won at the Paris Olympics with four, while Japan leads with seven. However, the United States currently sits atop the medal count with 26.
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