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$150,000 Olympic bonus for Missy Franklin in NCAA red tape
LONDON — Swimmer Missy Franklin could depart the Olympics with more than $200,000 to spend on a high school prom dress or college dorm furniture, but the ultimate worth of her heavy medal haul is tangled up in NCAA red tape.
It's a big money question for Franklin, because the bonuses given U.S. Olympians for podium finishes at the Summer Games are the only major way this 17-year-old Regis Jesuit senior can reap a financial reward from five swimming medals and maintain her amateur standing.
The NCAA, however, has been slow to notify USA Swimming whether Franklin will get a windfall or a relative pittance. It's crucial information Franklin needs when she discusses the pros and cons of turning pro upon herreturn to Colorado next week.
Here's the breakdown of the cash in question:
Each individual gold medal won by Franklin is worth $25,000 from the U.S. Olympic Committee's standard bonus. By winning the backstroke at both 100 and 200 meters, she is guaranted at least $50,000, plus lesser dollar amounts as a member of three American relay teams that captured a medal. That's money Franklin can keep with no impact upon her amateur status with the NCAA, according to USA Swimming spokesperson Karen Linhart.
Read more: Mark Kiszla: $150,000 Olympic bonus for Missy Franklin in NCAA red tape - The Denver Post http://www.denverpost.com/kiszla/ci_21241613/mark-kiszla-150-000-olympic-bonus-missy-franklin#ixzz22j5aO2hK
Read The Denver Post's Terms of Use of its content: http://www.denverpost.com/termsofuse
It's a big money question for Franklin, because the bonuses given U.S. Olympians for podium finishes at the Summer Games are the only major way this 17-year-old Regis Jesuit senior can reap a financial reward from five swimming medals and maintain her amateur standing.
The NCAA, however, has been slow to notify USA Swimming whether Franklin will get a windfall or a relative pittance. It's crucial information Franklin needs when she discusses the pros and cons of turning pro upon herreturn to Colorado next week.
Here's the breakdown of the cash in question:
Each individual gold medal won by Franklin is worth $25,000 from the U.S. Olympic Committee's standard bonus. By winning the backstroke at both 100 and 200 meters, she is guaranted at least $50,000, plus lesser dollar amounts as a member of three American relay teams that captured a medal. That's money Franklin can keep with no impact upon her amateur status with the NCAA, according to USA Swimming spokesperson Karen Linhart.
Read more: Mark Kiszla: $150,000 Olympic bonus for Missy Franklin in NCAA red tape - The Denver Post http://www.denverpost.com/kiszla/ci_21241613/mark-kiszla-150-000-olympic-bonus-missy-franklin#ixzz22j5aO2hK
Read The Denver Post's Terms of Use of its content: http://www.denverpost.com/termsofuse
I had no idea such kind of money was involved in winning at the Olympics outside of endorsements.
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