Michael Phelps

Does Michael Phelps get paid for his medals?

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Wiki User
June 30, 2010 2:01PM

Olympic athletes get paid based on if they win a medal.

For 2008, the payment schedule is:

Gold: $25,000

Silver: $15,000

Bronze: $10,000

(Source: http://teamusa.org/content/index/894)

Also, Michael Phelps had an agreement with his sponsor Speedo in

which a $1 million bonus was included if Phelps earns a record

seven Olympic gold medals at the 2004 Olympic games in Athens,

Greece, or the 2008 Olympics in Beijing, China, which he

accomplished.

(Source:

http://promomagazine.com/othertactics/marketing_speedo_strikes_endorsement/)


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