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Here's Who Will Get Rich Off The London Olympics

Reported by Business Insider on Thursday, 12 July 2012 (on July 12, 2012)
Business Insider
Here's Who Will Get Rich Off The London OlympicsThe Olympic Games cost a lot. London's final price-tag is thought to be £8.4 billion ($13 billion), 107% over budget.

While it's still in the balance whether the Olympics will be a money spinner for the city, there are some people who are definitely getting a payday. Let's take a look.

-The (most famous) athletes-

While athletes at Olympics aren't paid for participation, some can earn money for medals (for instance, the United States Olympic Committee will pay $25,000 for a gold medal).

However, that's chump change compared to sponsorship money. For example, take US swimmer Ryan Lochte, who could make a huge payday if he performs well against rival swimmers (and teammate Michael Phelps). Lochte has five endorsement deals with Gatorade, Ralph Lauren, Gillette, Mutual of Omaha, and Speedo — if he performs well enough for the bonuses in his contracts to hit, he could earn between *$3 to $4 million these games*.

Of course, if you're not famous or successful... tough luck we guess.






-The security firms-

The Olympics represent an enormous security risk for a city, and London's Metropolitan Police Force is likely to be stretched to its limits — and so, the private sector has to step in.

G4S, the world's largest global private security firmext has been given a huge $355 million contract to head security for the Olympic games.





-The construction companies-

Regenerating an entire area of London has required a lot of cash. For example, take Sir Robert McAlpine Ltd, a private British engineering and construction company, which is carrying out construction of the Olympic Stadium.



See the rest of the story at Business Insiderext

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