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The cost of medals

Great Britain dramatically improved its results at London 2012 by winning far more medals than they had at any other previous Olympics. They did that however by spending a considerable amount of money, most of it from the National Lottery. UK sport for example has a £125 million annual budget and so for example, the medals that they did not win in Archery, because they never won any, cost £4,4 million and I mention that figure because South Africa invested approximately R33 million altogether in our Olympic efforts and Great Britain spent in excess of R50 million on Archery alone and never won a single medal!

They did fantastically well in cycling, having won 12 medals, but they also spent £26 million to win those 12 medals. The four medals they won in gymnastics cost £10,7 million, the 9 medals they won in rowing cost £27 million, the 5 medals they won in sailing cost £22 million and in swimming, where like South Africa, they won 3 medals, they spent £25 million. It shows you what can be achieved with money and of course we live in a developing nation where we cannot possibly spend that amount of money on sports as opposed to education (where we don’t seem capable of delivering the textbooks taxpayers pay for), but you have to marvel at what, for example, our swimmers achieved on a total budget of R33 million across all sports, when the British athletes had, in our money, more than R300 million allocated just to swimming alone!

Posted by Michael de Broglio on Friday 24-Aug-12 Share on Facebook   Tweet It

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Comments

cherise   said:
on Wednesday 29-Aug-12 11:51 AM
That is so much money being spent on medals , it just seems like a waste to me. I have to agree with Lucretia with regards to the money being allocated to different types of sports.

liesl  said:
on Monday 27-Aug-12 09:11 AM
That's talking big money. Although SA could not afford to spend as extravagantly as other countries I am still happy for those athletes that were afforded the opportunity to compete in such a great event. An opportunity they will remember for the rest of their days.

Alexis  said:
on Friday 24-Aug-12 05:02 PM
Wow, that is a lot of money, Maybe I should become an olympist (HAHAHAH) and win myself a medal (HAHAHA) and invest and be set for life

Lucretia  said:
on Friday 24-Aug-12 04:52 PM
Call my crazy but, I cannot justify that kind of money being spent on a medal. I do understand the Olympics it is a big event but rather take that money and get other kinds of sports involved or allow more candidates to attend instead of having to leave behind someone who might have missed the qualifier by 0.01 of a second.

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Johannesburg based attorney specializing in personal injury matters including Road Accident Fund claims and medical negligence matters. My interests include golf, reading and the internet and the way it is constantly developing. I have a passion for life and a desire for less stress!
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