Their medal cabinets overflow as they continue picking up accolades. But that does not necessarily translate to their bank accounts!

Simone Biles‘ kitty is full of wins in national championships, world championships, and the Olympics. Some more are set to be added to that coveted collection as she eyes her third Olympic appearance this summer. In bringing glory to the US, Simone is way ahead of the other young prodigies, such as Sha’Carri Richardson and Noah Lyles. Despite that, these two track and field stars will probably outpace the gymnastics virtuoso financially in the upcoming Olympic trials.

Lyles and Richardson have been two bold voices in the USA’s track and field realm, persistently calling out authorities for lack of funding and unfair athlete pay. Despite the obstacles, they still have the hope of earning some money as they head to Paris. Unfortunately, the same cannot be said for elite US gymnasts, including Simone Biles, who are likely to earn nothing on their journey to the Olympics.

According to the official USA Track & Field website, athletes at the 2024 United States Olympic trials for track and field not only have a shot at coveted medals and a ticket to the Paris Olympics, but they can also earn some well-deserved cash. The top eight finishers in each event receive prize money: $11,000 for 1st place, $8,800 for 2nd, $6,600 for 3rd, $4,400 for 4th, $3,400 for 5th, $2,200 for 6th, and $1,100 for both 7th and 8th places.

On top of that, USATF will provide $2,100 for travel expenses to selected athletes, including defending champions, top three performers in the qualifying period, and certain ranked athletes. But the amount of the prize money created a controversy last week when a comparison surfaced between the prize money of the gold medalists at the European Championships. According to reports, the winners there received €50,000 which converts into some $53,000, almost 5 times more than the US Olympic trials prize money for the winner.

Despite the debate, it still represents a better deal than what gymnasts like Simone Biles and other elite Team USA members will receive at the 2024 USA Gymnastics Olympic Trials: zero dollars. The sorry state of affairs regarding prize money came to the fore last year as well. Let’s take a look.

GOAT of gymnastics, but where is the recognition?

Last year, Australian gymnast Heath Thorpe took to X to point out the harsh reality of Simone Biles’ earnings on Sportico’s “Top 15 Highest-Paid Female Athletes 2023” list. Thorpe wrote, “It is wild to me that you can be as successful as Simone Biles in gymnastics and earn essentially ZERO dollars from prize money.” While most athletes on the list made significant amounts from their sports, Biles, the most accomplished gymnast in the world, showed nearly $0 in the salary and winnings category.

So, how do gymnastics stars earn money?

Only a select few exceptionally successful gymnasts earn substantial amounts, while the majority earn very little or nothing at all. As for Simone, most of her income comes from endorsements with brands like Athleta, Spieth America, Powerade, Wheaties, GK Elite, Nulo, Axonius, and MasterClass.

But, gymnasts rarely receive a salary and often have to cover expenses like coaching fees and club memberships out of their own pockets. Professional gymnasts rely heavily on corporate sponsors and endorsements, while collegiate gymnasts can leverage Name, Image, and Likeness (NIL) deals to generate income.

In contrast, some countries, like China and Russia, have state-funded systems that provide salaries to gymnasts. However, these systems are primarily geared towards developing international champions rather than ensuring long-term financial stability for athletes. In the US, gymnastics gets big TV coverage and sponsorship deals, but there’s no government funding for elite gymnasts because of this, so they rely on sponsors for Olympic travel. Sadly, the International Gymnastics Federation (FIG) is also not very considerate about individual prize money.

Back in April, when the World Athletics announced prize money for the Olympic medalists, other federations also came under the scanner. But FIG president Morinari Watanabe declined any such initiative. Watanabe told to Kyodo News, “The FIG uses this revenue to support the development of gymnastics around the world, and in developing countries in particular. Many developing countries do not have enough gymnastics apparatus, or are using out-of-date apparatus.”

While FIG’s thought of all-encompassing development is commendable, that can be demoralizing for the athletes. Therefore, going into the Paris Olympics, gymnasts like Simone Biles, Jordan Chiles, and Suni Lee will once again look to their sponsors for financial benefits. For now, as they prepare for the Olympic trials, it’s evident they won’t be earning any prize money, unlike track and field stars. Reflecting on this stark contrast between sports like gymnastics and track and field, what are your thoughts on this disparity?