Calculating how much the games athletes won

[newlymarried5]

So we saw on the podium that first place takes home $285k in the form of a giant novelty cheque - but there is prize money all the way down to 20th place as well (taking home $5k).

On top of that you win prize money for placing in each individual event. $3k for first, $2k for second and $1k for 3rd.

So I got curious and calculated the top 5 guys and girls and their winnings. Prize money for each overall position is $285k for first, $100k for second, $70k for third, $45k for fourth and $30k for fifth. So lets add that up along with their event placings.

MEN

MATT FRASER - $306,000 4 x 1st place, 4 x 2nd place, 1 x 3rd place

BRENT FIKOWSKI - $109,000 2 x 1st place, 3 x 3rd place

RICKY GARRARD - $76,000 2 x 1st place

PATRICK VELLNER - $51,000 1 x 1st place, 1 x 2nd place, 1 x 3rd place

NOAH OHLSEN - $31,000 1 x 3rd place

WOMEN

TIA-CLAIR TOOMEY - $298,000 2 x 1st place, 3 x 2nd place, 1 x 3rd place

KARA WEBB - $113,000 3 x 1st place, 2 x 2nd place

ANNIE THORISDOTTIR - $77,000 2 x 2nd place, 3 x 3rd place

SARA SIGMUNDSDOTTIR - $50,000 1 x 1st place, 2 x 3rd place

KATRIN DAVIDSDOTTIR - $37,000 2 x 1st place, 1 x 3rd place

I was honestly surprised to see so much prize money, really happy for the athletes. For more details (and my source) on the prize money check here.

 

[steve77777]

@newlymarried5 Could've saved you some time as Floelite did all the calculations yesterday:
http://www.floelite.com/article/59968-2017-reebok-crossfit-games-payouts-the-men

http://www.floelite.com/article/59970-2017-reebok-crossfit-games-payouts-the-women

 

[newlymarried5]

@steve77777 Haha oh man!!!

 

[bornagainbrian]

@steve77777 Do you know what the teams payout are?

 

[jcja4]

@newlymarried5 What are the taxes like on this sort of thing?

 

[caliisawake]

@jcja4 Canadians won't have to pay taxes on their winnings.

Source: I won a large lotto prize a few years back.

 

[davehump]

@jcja4 Taxed as regular income would be my guess

 

[jcja4]

@davehump Really? I figured it would be like a prize. I'm really curious, hopefully someone who actually knows will respond.

 

[dawn16]

@jcja4 Most things like that are typically taxed as a bonus or gratuity. Regular income is taxed at the rate you would roughly be at over the year. This is probably taxed at the highest teir, around 43-44%.

I used to work commission sales and my paychecks were taxed like 25% but every single commission check was like 44% because it wasn't classified as standard pay, it was basically a bonus. But that gets corrected on your tax return because that is based off of your total income regardless of regular pay or bonuses etc.

 

[squirrel123]

@jcja4 Either a prize or they sign a 1099 upon winning their first prize money in the tax year (Open?)

 

[notthereyet]

@jcja4 I can speak for australians. Tia and Kara will be taxed at a fairly high tax rate. They should probably both be hit with the highest tax bracket which means you pay 45% of every dollar over 180k + a lump sum of 55k
Assuming Tia gets some where near the market rate for conversion into AUD. She will be getting ~376590 AUD.

From that she will take home 226,363 AUD.

 

[joshuabell]

@newlymarried5 question: does Crossfit pick up the travel and accommodation expenses for all the competitors? I'm guessing individual, but maybe not teams? Certainly not masters, right?

 

[fredindallas]

@joshuabell None of the above.

 

[jcevin]

@fredindallas Almost as bad as how college football profits off their athletes.

 

[ahadi]

@jcevin I'd say it's a distant second to the NCAA. Hard to get to that level.

 

[lcaveman75]

@jcevin You severely underestimate how much money is made in the NCAA compared to CrossFit. I'd be surprised if the Games were net positive at all for HQ.

 

[jcevin]

@lcaveman75 Even if they aren't a "net positive", the games are minimally an advertisement, which indirectly makes them money. So they are still exploiting the athletes. For profit public companies (Reebok) are not in the business of losing money.

No matter what they are being exploited.

 

[lcaveman75]

@jcevin It's not exploitation- the athletes are free to sign contracts with whomever they choose, at any point in time. There are no artificial constraints to making money.

And CrossFit isn't an employer like the NCAA/NFL/etc. They owe nothing to the athletes contractually, and every athlete enters the competition knowing they may earn nothing. The athletes do not have a position of power to demand increased winnings.

Comparing to billion dollar industries is silly. We should be comparing to Ironman and other recreational sports, where sponsorship is the only real money involved and prizes are secondary/trivial.

 

[jcevin]

@lcaveman75 And college students shouldn't be paid because they are amateurs! It will ruin the spirit of college sports! Plus, they are getting a free education, which is the greatest gift!

Come on, they can at least pay for a block of hotel rooms for a weekend. Even if there are what, 300 competitors total? They could easily negotiate and get accommodation for say $100 per person per night, costing them $150k.

 

[lcaveman75]

@jcevin The athletes are free to demand housing/travel, or ask their sponsors to cover it (which I'm sure some do). CrossFit is under no obligation unless the public (their customer) demands it, which they haven't.

Welcome to free market capitalism.