(Aug. 26): There are some people who still harbor the false illusion that the Olympics are exercises in the purity of amateur sport.
Others, who know better, yearn for the good old days, when the perceived amateurs of the United States competed against the undercover pros of the Iron Curtain teams.
That, too, was a bogus illusion. Most American athletes were just as subsidized – by virtue of college athletic scholarships, service in the armed forces or affluent parents – as their counterparts from Russia, East Germany and the like.
After banking more gold medals than any athlete in Olympic history, swimmer Michael Phelps will now seek to break the bank on the endorsement front.
Speedo has already given Phelps a $1 million deal. He also has a deal with Visa and it won't be long before his image appears on a cereal box.
Visa has also issued a new card featuring gold-wining gymnast Nastia Liukin.
Jamaica's Usain Bolt wasn't posing photos with his golden Puma track shoes prominently displayed at face level for free, either.
All are following in the footsteps of predecessors such as Bruce Jenner, Carl Lewis, Mark Spitz and Mary Lou Retton in making careers out of their Olympic fame.
Chinese athletes will receive about $50,000 each for gold-medal performances. Canadians are paid from $19,000 for a gold medal to $9,000 for a bronze. Other countries offer luxury vehicles and/or homes as incentives for success.
So, as you see the latest group of stars cash in on their athletic feats, remember this simple Olympic formula: Gold equals green.
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