Get the latest market trends in your inbox

Stay on top of the latest market trends and economic insights with the Axios Markets newsletter. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Denver news in your inbox

Catch up on the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Des Moines news in your inbox

Catch up on the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Minneapolis-St. Paul news in your inbox

Catch up on the most important stories affecting your hometown with Axios Minneapolis-St. Paul

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tampa-St. Petersburg news in your inbox

Catch up on the most important stories affecting your hometown with Axios Tampa-St. Petersburg

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sandi Morris. Photo: Alexander Hassenstein/Getty Images for IAAF

The postponement of the Tokyo 2020 Summer Olympics was a serious economic blow for U.S. Olympic and Paralympic athletes and hopefuls.

The state of play: With seasons and events canceled, athletes are unable to earn appearance fees, prize money and performance bonuses from sponsors, all while continuing to train for Tokyo 2021.

  • Outside of a select few, most Olympic athletes earn very little money from their sport. In fact, as pole vaulting silver medalist Sandi Morris (above) told me this week: "A general rule of thumb is that if an athlete is not top 10 in the world in their event, they probably have a part-time job to pay the bills."
  • Some athletes have sponsorship deals, but many of those are up in the air, with sponsors hurting financially and unprepared to pay athletes for an extra 12 months.
"Every four years, we know Team USA is going be the team everyone is watching. We know our athletes are going to perform and raise our flag high for the world to see. In order for us to get that, we need to invest in them."
— Five-time Olympian Bernard Lagat tells Axios

Go deeper: Athletes who qualified for Tokyo Olympics to keep their spots in 2021

Go deeper

Kendall Baker, author of Sports
Oct 15, 2020 - Sports

NCAA grants D-I winter athletes additional year of eligibility

In an attempt to provide as much flexibility as possible amid a time of great uncertainty, the NCAA has granted all D-I winter athletes an additional year of eligibility — something that was already granted to all fall and spring athletes.

What they're saying: Grace Calhoun, who chairs the NCAA's D-I council and is the athletic director at Penn, said the council didn't want athletes choosing to redshirt because of fears that their seasons might be cut short or negatively impacted by the pandemic.

Philanthropy Deep Dive

Illustration: Aïda Amer/Axios

A look at how philanthropy is evolving (and why Dolly Parton deserves a Medal of Freedom).

Updated 6 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Politics: Fauci says he accepted Biden's offer to be chief medical adviser "on the spot" — The recovery needs rocket fuel.
  2. Economy: U.S. economy adds 245,000 jobs in November as recovery slows — America's hidden depression: K-shaped recovery threatens Biden administration.
  3. Education: Devos extends federal student loan relief to Jan. 31
  4. States: New Mexico to allow hospitals to ration coronavirus medical care
  5. Vaccine: What vaccine trials still need to do.
  6. World: UN warns "2021 is literally going to be catastrophic"
  7. 🎧 Podcast: Former FDA chief Rob Califf on the vaccine approval process.

Get Axios AM in your inbox

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!