TOKYO, Japan — While the country cheers for Team USA in the 2020 Tokyo Olympics, people at home may think Olympians lead a glamourous life. Or, at the very least, are able to comfortably afford their training on their quest for Olympic gold.
Unfortunately for many athletes, that is not the case.
For Olympic hopefuls, in addition to grueling physical training, the costs of coaches, training, equipment and travel, among other things, add up quickly.
And with no direct federal support in the U.S., the costs can be more daunting.
In 2012, Forbes put together some of the costs of being a summer Olympian. For example, in 2012 it cost archers trying to make it to the Olympics at least $25,000 a year and more than four years of training to reach Olympic level.
Forbes also said Table Tennis athletes pay more than $20,000 a year and had to train anywhere between eight to 12 years to reach Olympic level. Fencing also averaged a cost of $20,000 a year with 10 to 15 years of training.
For gymnasts such as Simone Biles, it costs at least $15,000 a year to train and compete, and training lasts between five to eight years, Forbes said.
Famously, Olympic gymnast Gabby Douglas' mom said her daughter's training was a factor in why she had to file for bankruptcy.
In a July interview with Vice, Tokyo Olympic hopeful and sprint kayak athlete Shaye Hatchette said she has spent more than $35,000 in travel fees alone since 2018. Yearly, she says she spends more than $38,000 in expenses.
Hatchette says for Olympic sports that aren't "popular," finding funding and sponsorships to supplement the cost of training and competing can be very hard.
Huffpost reported that there are also other hidden costs for Olympic hopefuls, such as putting off a "real" professional career until their late 20s or 30s. The loss of "earning a true wage" isn't truly compensated even if you're a medal winner — the U.S. Olympic Committee recently increased its reward for medal-winners to $37,500 for gold, $22,50 for silver and $15,000 for bronze medals.
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