Does Olympic gold light a path to riches? Not for everyone.
The perception is that gold-winning Olympians find it easy to turn success into lucrative corporate sponsorships (Gabby Douglas is already on Corn Flakes boxes). But that's the exception to the rule.
No sooner had Gabby Douglas dismounted from the podium clutching gymnastic gold, then observers began speculating on the other riches she’d be pulling in from corporate marketing deals. Her face already graced the boxes of Kellogg’s Corn Flakes, and that was just the beginning.
Every four years, it’s same the story: an athlete wins a high-profile event, and the buzz starts about the millions of dollars to be raked in from corporate sponsorship deals. For US high achievers like swimmers Michael Phelps and Ryan Lochte and gymnasts Aly Raisman and Ms. Douglas or their peers from other nations – here's looking at you, Usain Bolt – the Summer Olympic Games look like a financial bonanza. The fame of gold medals could be worth as much as several million dollars per year.
But these tales of personal riches are the exception, not the rule. Of all athletes, Americans enjoy some of the richest potential for reaping income from corporate sponsorships and product endorsement deals. But the flow of money is uneven and sometimes comes with pitfalls.