USA Gymnastics makes money through several sources:
- Sponsorships and endorsements: Gymnasts who achieve significant success can attract sponsors and endorsement deals. These deals provide financial support in exchange for the athlete promoting brands and products.
- Prize money from competitions: Gymnasts can earn prize money by competing in events and competitions.
- Appearance fees: Successful gymnasts are often invited to perform and participate in events.
- Merchandise sales: As a national governing body, USA Gymnastics profits from the sale of branded merchandise.
The earning potential increases for gymnasts who compete internationally versus nationally. Opportunities have expanded more recently with name, image and likeness (NIL) deals for NCAA athletes.
How Simone Biles Earns Money
Simone Biles makes money through gymnastics competitions, endorsements, appearances, and merchandise sales.
- At the Olympics, medalists receive cash prizes. Biles pocketed roughly $170,000 from her 2016 Olympic wins.
- Her primary income source is endorsement deals and sponsorships, with an annual earnings of around $5 million.
- Biles also profits from appearance fees at events.
- Merchandise with her brand sells, contributing to her income.
Making Money in Gymnastics: An Overview
The only gymnasts who will really be able to make money in any of these ways are the ones at the very highest level.
The US Gymnastics System brings in large levels of sponsorship and endorsement opportunities. The policy relaxation by the NCAA in regard to gymnasts earning from their NIL has opened up more opportunities in the USA for earning money as a College gymnast.
Gymnast Salary:
| Annual Salary | Weekly Pay |
|---|---|
| Top Earners $96,500 | $1,855 |
| 75th Percentile $61,000 | $1,173 |
| Average $51,826 | $996 |
| 25th Percentile $29,500 | $567 |
Gymnasts make money through:
- Competitions: Prize money depends on their performance and the level of the competition.
- Sponsorships: Financial support from sponsors in exchange for promotion.