Is Michael Phelps cashing in on his success financially?

Question

If he was in a major sport he would be worth $100 million. Is he making anything off of this success? Is he getting a cut of NBC's DVD that they are selling? If not, nobody should buy it. Michael deserves to get rich off of this.

Answer 1

well h**l yeah. on the olympics they were saying he is a multimillionaire. they also said speedo made a deal with him that they will pay him 1 million if he got 7 golds, well he got 8. plus he has endorsement deals with kelloggs & some other swimming gear companies.

bob costas was saying he's already made enough money to live off for the rest of his life & he's only 23!

Answer 2

That Chinese female diver has already bankrolled 3 million, typical Chinese, sell outs, And people dog Americans LOL.

Answer 3

uh........... michaelp phelps rules :)

Answer 4

Well...I bet he's very rich now.After winning that 8th gold medal and all.

Answer 5

I guess he is.

Well stuff he's in he will get paid for i assume

British athletes definitely are.

He probably will.

And i think he has enough money anyway.

Have you seen how much he eats?

Imagine how much that amount of food costs.

:O

Answer 6

oh im sure he is making some money with his endorsements, and im sure when the olympics are over your going to see him in everything!! from magazines, billboards, cereal boxes, commercials, etc.

so im sure he is gonna be getting some gooooood $$$$$$

Answer 7

from sponsers yes, he gets $5 mill a year..not sure if the US is paying like some other countries..

Answer 8

Der Freddy of course the druggie will cash in he needs to create even better drugs for the future swimmers.

Answer 9

He made $1 million from speedo for his last gold medal win. I can only imagine what other money he has earned. I guarantee he is a multi-millionaire. He's not making AROD or LeBron money, but he's doing well and in the future he'll make much more.

Answer 10

Getting paid $1million if he gets 7 gold.

Answer 11

Yes, He gets $15 000 for every gold he wins

Answer 12

Michael Phelps will get a Wheaties Box cover and will make enough in endorsements to set him up for the rest of his life.

The greatest US Olympic athlete in my opinion was Eric Heiden who 5 speed skating gold medals in the 1980 Lake Placid Olympics and I don't think he earned squat.

Dr Heiden (now a dentist) won the 500 meter and 1,000 meter sprints.  He won the 1,500 meter and 3,000 meter middle distance races AND he won the 10,000 long distance races.

Heidens accomplishment was over shadowed by the miraculous Gold Medal perforamance of the USA Mens Hockey team.  But what Eric Heiden did was incredible.  He won sprints, middle distance races, and he won the speed skating equivelent of the marathon.  

The fact that he didn't cash in with big money is a shame in some ways but it speaks volumes of Eric Heidens character and commitment to his sport.

BTW - I believe Dr. Heidens sister Beth won a bronze medal in Lake Placid as well.    

Answer 13

100 thousand per medal. 1 mil from speedo for his 7th. Many other thousands from his other sponsors.

I think he's cashing in big!!

Answer 14

Spoken like a true American.

So the Olympic ideal is just so much twaddle then...?...thought so!