How Olympic Games athletes are saving money on their gear
Posted On August 2, 2021
On Wednesday, athletes from around the world will compete in the Olympics.
But the first athletes to make it into the finals for the world’s largest sporting event will likely be athletes from the United States.
On Wednesday, the U.S. Olympic Committee released the results of its survey of 4,000 athletes across a range of sports to identify what they spend most on their sports gear.
They found that nearly 60 percent of those surveyed said they buy their gear at least once a month, with many opting for a mix of the two.
The U.N.ODC said the data is a useful indicator of how well athletes are doing at training and competing.
It said that, while the survey did not include an exact breakdown of the costs of gear purchased by athletes, the survey’s findings suggest that a large portion of these costs could be reflected in the cost of their training and competitions.
“Athletes are going to spend their training time and money on the gear they need to get to the Olympics, whether it’s gear to run on or gear to compete on,” Michael Lill, the president of the United Kingdom’s International Olympic Committee, told CNN’s Fareed Zakaria.
“That is the price you pay for getting to the Olympic Games.”
The U.K. has had a reputation as a relatively high-cost sport, with the government requiring that athletes spend over 20 percent of their earnings on gear.
However, a recent study from the University of North Carolina, Duke University and the National Sport Council found that the U-20 men’s basketball team, for example, spent only about 4 percent of its budget on gear compared to the U20 women’s basketball and men’s soccer teams.
In other words, even though the U, U-21 and U-23 women’s national teams are all making huge financial sacrifices to travel to the games, most of the athletes on those teams still have enough money to live off their training expenses.
But it’s not just the cost that athletes have to consider.
Some athletes, particularly those who compete in a specific sport, may also choose to use their gear for something other than competition.
For example, the National Basketball Association said this week that its players were spending about half their time on their training, and that the players spent a combined total of about $40 million on training gear this year.