How much money do Olympic Bobsledders make per year?

By Jayson Panganiban March 10, 2024 05:10

Photo by Edgar Su / REUTERS

When it comes to the financial aspect of being an Olympic bobsledder, the reality may not be as lucrative as one might think. The income of Olympic bobsledders varies widely and is influenced by a multitude of factors. Let's dive into the details to understand how much money Olympic bobsledders make per year.

The Financial Reality

Lolo Jones' Experience

In 2013, Lolo Jones, a track and field star turned bobsled athlete, posted a Vine video revealing that she made a little over $741 for seven months of bobsledding. This sparked a debate in the sports community, with Olympic gold medalist Steven Holcomb responding to Jones' post by highlighting the financial challenges faced by bobsledders.

Prize Money and Sponsorships

The earnings of bobsledders primarily stem from prize money and potential sponsorships. Prize money from competitions can vary, with the potential to exceed $200,000 per competition for successful athletes. However, it's important to note that the prize money is not evenly distributed, with top performers reaping the most significant financial rewards. Additionally, sponsorships play a crucial role in an athlete's income, with the potential for substantial financial support from companies. Notably, Lolo Jones herself mentioned sponsorship from the energy drink company Red Bull, which significantly impacts an athlete's overall earnings.

Financial Struggles

Financial Challenges Faced by Bobsledders

Financial challenges are prevalent in the world of bobsledding. The financial struggles of bobsledders are exacerbated by the sport's high costs, including equipment, travel expenses, and training costs. Furthermore, the financial burden of pursuing a career in bobsledding often leads athletes to seek alternative sources of income to sustain their sporting endeavors.

Income Disparities

The income disparities among bobsledders are significant, with top performers earning substantial amounts from prize money and sponsorships, while others may struggle to cover their basic expenses. This highlights the financial unpredictability and challenges faced by athletes in this sport.

Funding Sources

Alternative Funding Methods

In addition to prize money and sponsorships, bobsledders explore various funding sources to support their Olympic dreams. Some athletes resort to crowdfunding, seeking financial support from friends, family, and local businesses. Others may leverage community-based fundraising initiatives to alleviate their financial burdens.

Corporate Partnerships and Endorsements

Corporate partnerships and endorsements also play a pivotal role in the financial sustainability of bobsledders. Collaborations with corporations and securing endorsement deals can provide bobsledders with additional financial support, enabling them to pursue their athletic careers.

The financial landscape for Olympic bobsledders is multifaceted and challenging. While top performers have the potential to earn significant income from prize money and sponsorships, many bobsledders face financial hardships due to the sport's high costs and income disparities. Alternative funding sources, corporate partnerships, and endorsements are essential avenues that bobsledders explore to support their Olympic aspirations. Ultimately, the financial realities of being an Olympic bobsledder underscore the dedication, resilience, and financial challenges that athletes in this sport navigate in pursuit of their Olympic dreams.