The Price Of Rice

Along with her Olympic gold medal, Australia’s new swimming superstar Stephanie Rice pocketed a tidy sum of money thanks to the Medal Incentive Scheme.

Australian swimming's golden girl Stephanie Rice can expect to cash in when she returns home from Beijing

Editorial Review

Once upon a time, Olympic athletes were true amateurs. If they were found to have accepted any money at any stage of their careers, they were barred from the Games and stripped of any medals they had won previously.

Quite a while ago, that all changed, as there was no way for an athlete to survive without making some money, not to mention that Western athletes couldn't possibly train and travel to compete like the ones in the old Eastern bloc countries, who were basically supported by their governments.

Then, about 20 years ago, a few countries came up with the bright idea of rewarding achievement with an incentive scheme. Win an Olympic medal or a world championship and get some extra cash. Of course some countries' rewards will always be bigger than others.

Now, of course, the world's best athletes are paid handsomely, with personal sponsors and appearance money making it an attractive profession to be in - assuming you have the talent, that is.

As long as we live in a market economy, where people always want to sell us something, the most successful and best looking athletes will make the most money.

We all know that Anna Kournikova was never the world's best female tennis player, but that didn't stop her making millions.

Ian Thorpe, though, has the looks, the pleasant manner and just happened to be the world's best swimmer, so no wonder he is set for life. It doesn't hurt that he's been smart enough to parlay sporting prowess into business success or that his popularity extends to a few of the world's most populous countries, outside our own national borders.

Which brings us to Australia's newest golden girl of the pool, Stephanie Rice. In the euphoria of her Olympic success, you can't help but wonder what she's worth.

At just 20 years of age and with world records and now Olympic gold, the corporate world is at her feet - or, at least, will be when she gets home from Beijing.

The $18,000 she will get for each gold medal from the Medal Incentive Scheme is likely to be no more than pocket money for a good shopping trip, once the big sponsors sign her up.

Murray Brust in Beijing for Citysearch

View Citysearch's TV guide for details of Olympic Games coverage.