Best Answer

Olympic athletes get paid based on if they win a medal.

For 2008, the payment schedule is:

Gold: $25,000

Silver: $15,000

Bronze: $10,000


Also, Michael Phelps had an agreement with his sponsor Speedo in which a $1 million bonus was included if Phelps earns a record seven Olympic gold medals at the 2004 Olympic games in Athens, Greece, or the 2008 Olympics in Beijing, China, which he accomplished.


User Avatar

Wiki User

βˆ™ 2010-06-30 14:01:08
This answer is:
User Avatar
Study guides

Add your answer:

Earn +20 pts
Q: Does Michael Phelps get paid for his medals?
Write your answer...
Still have questions?
magnify glass
People also asked