USA Basketball Chairman Jerry Colangelo contemplates on why NBA Players are not paid for Olympics
Jerry Colangelo, the USA Basketball chairman has shed light on the fact why the NBA players are no paid to play in the Olympics.
This came in response to recent comments by Ray Allen and Dwyane Wade, who believe that the players need to be offered some kind of compensation for the time and commitment they put in to represent their country.
Colangelo explained that the money generated by the participation of the senior team, not only in Olympics but also other international events, is utilized in the building of USA Basketball and the funds are properly implemented
into the youth program from where all these NBA players have come.
He also went onto explain the financial crisis the program was in when he took over back in 2005. Colangelo’s appointment USA finishing in third place in the 2004 Olympics. Since then Colangelo has revitalized the program by properly
dividing the funds in management. Furthermore in addition to financial stability, the program needed guidance in the selection of the players, coaching staff.
"When I took over the program in 2005, they were in a terrible losing situation financially," Colangelo said. "During the next four years, I quadrupled the revenue, but that only brought us to break even. That covers all of the
expenses for the men, women, boys and girls, all the way down. We sell sponsorship, sell tickets to exhibition games."
The results have definitely improved since his takeover. USA won the Gold in the 2008 Beijing Olympics and has also won the 2010 FIBA World Championship which was held in Turkey. They went the whole without losing a match in the
World Championship.
In recent comments, Miami Heat star Dwyane Wade and Boston Celtics Ray Allen said that they believe that players from the NBA who represent their country in the Olympics should be paid. Ray Allen, who was part of the team which
won gold back in 2010, contemplated the fact that it requires a lot of hard work to get to training camp if you go deep into the playoffs. He further went on to say that players need to be enticed in order for them to be more motivated to represent their country.
Dwyane Wade, who was the part of the team which won the bronze medal back in 2004, and then gold in the 2008 Olympics, also backed the notion. The Olympic Games are scheduled to take place in August 2012, still a long way to go.
However, there preparations start way earlier and the NBA players have to cut short on a lot of their pre season commitments.
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