This Is the Insane Amount of Money It Takes to Become an Olympic Figure Skater

[Justathoughtabl]

But you have to have the personality and willingness to eschew privacy to make money in today's media game. Adam, Johnny, and Tara seem to be ok with it. Many other people would rather dig ditches than have their every move show up on FB or IG.

I doubt that figure skaters of all people are really giving up their privacy. It's not like they get chased by paparazzi. Johnny told a story on his and Tara's podcast where he was waiting in line at airport security, and somehow a man in front of him thought he was a student. (I could be remembering this wrong, but I think I remember the gist.) Johnny said he wasn't a student and hadn't gone to college, and the man became very judgmental and said, "Young man, you need a college education." So Johnny said, "I was busy competing in two Olympics." And the man's wife said, "Oh? Which sport?" Johnny said, "The luge." No one was going to question it because no one around him recognized him, which of course is not surprising for a figure skater, unless you're Michelle Kwan.

 

[Aceon6]

It's not like they get chased by paparazzi.

People may not recognize them out of uniform, but the thought that people who follow the sport know what you had for breakfast in PyeongChang can be draining. God forbid you do something truly stupid. The internet doesn't forget.

 

[DreamSkates]

I don't believe these net worth estimates. They're just that-- estimates. I doubt anyone knows where celebrities have put their money, how much interest their investments have earned or not earned, etc. I'm sure it's not off base to assume Michelle made a lot of money. She was America's queen of figure skating in the 90s, after all. But how can anyone know what her net worth is?

There are many wealthy people whose assets can be estimated (homes, etc.) - Bill Gates, for example. It's not that hard if you know the sources.

 

[mag]

There are many wealthy people whose assets can be estimated (homes, etc.) - Bill Gates, for example. It's not that hard if you know the sources.

Yes and when people own property the value is a matter of public record so at least that part isn’t easy. For someone like Tara who owns three homes, a large percentage of he net worth is probably tied up in those.

 

[Justathoughtabl]

There are many wealthy people whose assets can be estimated (homes, etc.) - Bill Gates, for example. It's not that hard if you know the sources.

I still don't buy it. Yes, I understand property records and property values are public. But let's look at everyone's favorite, Johnny Weir. This says he's worth $4 million. https://www.celebritynetworth.com/richest-athletes/olympians/johnny-weir-net-worth/ Where would they get that amount? Last I heard he does not own property. How are we to know how much he earned from NBC, Google ads, etc? And these things never say (or know) how much celebrities spend. There are plenty of people who make a ton of money and end up in debt.

 

[brennele]

Just, You make valid points but here is what celebrity net worth has to say about your comments
https://en.wikipedia.org/wiki/CelebrityNetWorth

My guess is that Weir is being paid fairly well for what he does - and he does is job very well, also. He strikes me as someone smart enough to invest properly. With the a good investment strategy, one does not need to own property to have high net worth. When he is ready to purchase property, no doubt he will do so. How much he can afford to pay in rent on where ever it is that he is living would provide another clue.

 

[Japanfan]

I still don't buy it. Yes, I understand property records and property values are public. But let's look at everyone's favorite, Johnny Weir. This says he's worth $4 million. https://www.celebritynetworth.com/richest-athletes/olympians/johnny-weir-net-worth/ Where would they get that amount? Last I heard he does not own property. How are we to know how much he earned from NBC, Google ads, etc? And these things never say (or know) how much celebrities spend. There are plenty of people who make a ton of money and end up in debt.

Johnny would be receiving royalty from his book (books?). And he's done some modeling, hasn't he?

 

[Justathoughtabl]

Just, You make valid points but here is what celebrity net worth has to say about your comments
https://en.wikipedia.org/wiki/CelebrityNetWorth

My guess is that Weir is being paid fairly well for what he does - and he does is job very well, also. He strikes me as someone smart enough to invest properly. With the a good investment strategy, one does not need to own property to have high net worth. When he is ready to purchase property, no doubt he will do so. How much he can afford to pay in rent on where ever it is that he is living would provide another clue.

The point I'm making is not that you have to own property to be wealthy. Nor am I questioning that he is likely to be wealthy. I'm saying that Celebrity Net Worth's declaration of someone's net worth using an algorithm that's based on publicly available information does not give the whole picture. Based on Joey Lawrence's earnings over his career, he'd be a multi-millionaire, but he's bankrupt due to overspending. It happens that bankruptcies are public, so CNW is able to factor that in to his page, which lists his net worth as -$400K. If he hadn't declared bankruptcy, what would the number be?

If someone earns 2 million dollars in a year and then spends 1.9 million on cars, jewelry, etc, well, their net worth is 100K. And I'm not talking about anyone in particular. I'm just saying that earnings don't tell the whole story.

 

[Justathoughtabl]

Johnny would be receiving royalty from his book (books?). And he's done some modeling, hasn't he?

Again, not questioning that he probably has plenty of money. I was using him as an example to wonder how CNW gets the $4 million figure.

 

[Aceon6]

Heck, my next town over friends have a net worth of about $2mil and they live paycheck to paycheck. The modest house they bought in 1980 is now assessed at $1.75mil. Net worth isn’t all it’s cracked up to be.

What’s more meaningful is whether skaters can generate a sustainable income after their competitive careers end. For most, shows, media and coaching do not generate a sustainable income and most retired skaters need traditional work on the side or need a spouse who brings in the primary income. The people who are still making a living from skating and related work 4+ years after retirement are RARE exceptions.

 

[mysticchic]

But it not just about respect. Teaching and doing are two completely different things. Just being able to do something has nothing to do with being able to teach it to other people. There are lots of Skaters who have absolutely no idea how they manage to land the jumps they do or how they can Skate fast. They just do it. A coach need to be able to break down the steps involved, they need to be able to explain those steps in a way the student will understand. Then they need to be able to watch the student, figure out what they are doing wrong, explain that to the student, give them a specific correction, perhaps even take the bit that is wrong and isolate it in an exercise, and then wash, rinse, repeat.

Again, I see nothing in Mirai’s public personne that would lead me to believe she has those skills. She may, of course have them or she may be capable of learning them, we just don’t know.

Mirai does some coaching. I've seen her coach and have photos of it.

 

[soogar]

Just, You make valid points but here is what celebrity net worth has to say about your comments
https://en.wikipedia.org/wiki/CelebrityNetWorth

My guess is that Weir is being paid fairly well for what he does - and he does is job very well, also. He strikes me as someone smart enough to invest properly. With the a good investment strategy, one does not need to own property to have high net worth. When he is ready to purchase property, no doubt he will do so. How much he can afford to pay in rent on where ever it is that he is living would provide another clue.

Weir is a huge spendthrift. During his divorce a ton of details came out about his money and how he had solicited funds for Olympic training which he used for his living expenses and how he had a fan buy something pricey for him (I think it was a watch but others on this site can fill in details). I hope he has learned to manage his money better and that those clothes are loaned to him.

You never really know what people have. Michelle may have a lot more money than estimated because no one knows how her money is invested and the performance.

 

[Skittl1321]

Mirai does some coaching. I've seen her coach and have photos of it.

Coaching students and coaching professionals (the idea of power skating class for the hockey team she was an ice girl for) are different things. She needs to build her amateur resume before she can be taken seriously to coach professionals.

 

[soogar]

Coaching students and coaching professionals (the idea of power skating class for the hockey team she was an ice girl for) are different things. She needs to build her amateur resume before she can be taken seriously to coach professionals.

Mirai has more than enough of a resume to coach students/professionals. Majority of coaches have never made it to the Olympics or won a national title/Olympic medal. Lots of respected coaches have far less accolades. In fact, the best coaches often have no Olympic medals or titles. They have had to figure out how to make do with less talent. Those are the people who are best at teaching as opposed to natural talents.

 

[chapis]

I've always wondered that too. Evan had a few big sponsors, and I assume Sasha and Michele did too. They all seem to be living very comfortably. Actually, I haven't seen Michelle's IG, but Sasha and Evan do. Evan now works for Vera Wang. Maybe he's paid very well...well enough for a luxury apartment in NYC and at least two fancy cars, that I've seen.

this is his apartment? https://www.instagram.com/p/BZXgNKUBFme/?taken-by=evanlysacek, He made a pact with the devil?, how much does that cost? I guess several millions of dollars. It seems so strange to me that he gets that just for working for Vera, but what do I know?

 

[Aerobicidal]

this is his apartment? https://www.instagram.com/p/BZXgNKUBFme/?taken-by=evanlysacek, He made a pact with the devil?, how much does that cost? I guess several millions of dollars. It seems so strange to me that he gets that just for working for Vera, but what do I know?

It depends on whether you're using "working with" in the capitalist sense or the biblical sense.

 

[overedge]

this is his apartment? https://www.instagram.com/p/BZXgNKUBFme/?taken-by=evanlysacek, He made a pact with the devil?, how much does that cost? I guess several millions of dollars. It seems so strange to me that he gets that just for working for Vera, but what do I know?

OMG 57th Avenue and 5th Street (which it says under his username) is Trump Tower

 

[VALuvsMKwan]

OMG 57th Avenue and 5th Street (which it says under his username) is Trump Tower

One would assume that there are 4 corners which have that address - are there apartment buildings on the other 3 as well?

 

[Justathoughtabl]

I don't know if we can be sure he actually LIVES in that NYC place. It looks staged. There's also this: http://articles.chicagotribune.com/...0140130_1_jacquelyn-heard-chicago-condo-daley

 

[alexikeguchi]

One would assume that there are 4 corners which have that address - are there apartment buildings on the other 3 as well?

Actually no, it's a very commercial area. There are some hotels with limited residences right along the southern edge of Central Park around 59th-61st (The Plaza and The Pierre for example), but by 57th there are mainly department stores.

 

[Skittl1321]

Mirai has more than enough of a resume to coach students/professionals. Majority of coaches have never made it to the Olympics or won a national title/Olympic medal. Lots of respected coaches have far less accolades. In fact, the best coaches often have no Olympic medals or titles. They have had to figure out how to make do with less talent. Those are the people who are best at teaching as opposed to natural talents.

Mirai's public personality, her skating skills, or her coaching resume have not really shown me she has the ability to command the respect of teaching power skating to professional hockey players.

But if she wanted to do that, I'm not the one she needs to convince, so lucky her. She's free to go sell her services to teams.

 

[mag]

Mirai has more than enough of a resume to coach students/professionals. Majority of coaches have never made it to the Olympics or won a national title/Olympic medal. Lots of respected coaches have far less accolades. In fact, the best coaches often have no Olympic medals or titles. They have had to figure out how to make do with less talent. Those are the people who are best at teaching as opposed to natural talents.

It is great that she is doing some coaching. I suspect at this points she is coaching other coaches students, which is the best way to start out. Tom probably had a whole slew of young skaters who Mirai can work with. I think Tom would be a good mentor. This will be great experience for when she finishes competing should she choose to go into coaches as a profession.

 

[Willin]

I'd imagine Johnny has no problem getting designer clothes now that he's known to show them off on national television (and at more than just the Olympics)... Designers probably give him some of that for free.

I think it's great that Mirai's coaching. Not only does it give her some money and potentially some free ice time, but it's also a great way to review your basic skating skills. It really helped me improve sloppiness to think about teaching and demonstrating things correctly in a step-by-step process.

 

[soogar]

I don't know if we can be sure he actually LIVES in that NYC place. It looks staged. There's also this: http://articles.chicagotribune.com/...0140130_1_jacquelyn-heard-chicago-condo-daley

I thought that Evan was also into real estate as well. I think I read somewhere that he worked in real estate prior to Vera Wang. He may buy and flip for investment purposes. He seems like a really sharp guy.

 

[chapis]

I don't know if we can be sure he actually LIVES in that NYC place. It looks staged. There's also this: http://articles.chicagotribune.com/...0140130_1_jacquelyn-heard-chicago-condo-daley

Yes, it is not clear but who post that kind of picture just with a clover? , someone told him: Can't wait to come stay!!!
Maybe Vera lends him her apartment to stay

 

[Japanfan]

https://www.thoughtco.com/figure-skating-costs-and-training-1282185

According to this site lessons cost $20-$50 per 20-minute lesson on average.

I checked 8 Rinks in Burnaby to see the fees there, but they are part of total membership costs.

I check Michelle Leigh, and she charges $88.00 per hour according to this: http://www.skateoakville.ca/staff/michelle-leigh/.

And I would think that 'in demand' coaches like Brian Orser would charge even more than $88.00 per hour. They also get all their travel costs reimbursed when they travel with skaters to competition.

A low level coach charging $20.00 per hour might be able to get by with 10 lessons per day. I don't know how difficult getting that many lessons is for a coach just starting out who is not a member of the elite.

However, a talented coach will soon prove his or her worth and could earn an okay living at $50 per session with a regular stable of skaters.

 

[Willin]

@Japanfan No coach will charge $20/hour. We have high schoolers that do private lessons for kids struggling in group lessons. I believe that's $20 for 30 minutes. I charge $30/30 minutes as a relatively inexperienced coach. More experienced coaches will go for $100+ an hour, at least in the US. My dance coach (PSA Master-rated, coached international skaters) goes for $110/hour.

In Adam's video he said he was paying coaches $100-150/hour. Since he's working with one of the top US coaches, I'd assume $150/hour is the upper limit of what top coaches will charge.

 

[mag]

Even junior coaches around here (Greater Vancouver area) charge a minimum of $40 per hour. The higher level senior club coaches range from $60 to $90 per hour. I think Joanne McLeod is $90 per hour. I believe in the US the rate is usually quoted for a 20 minute lesson and from what I have seen seems to range from $35 to $60 ($105 to $180 per hour) at the bigger centers. I believe Frank Carrol is $180 per hour.

Google is my friend. I just found this list of rates:
https://cdn1.sportngin.com/attachments/document/0093/4780/PRO_STAFF_BIOS_12.20.17.pdf

I was wrong. Frank Carrol is $50 per 20 minutes.

 

[Japanfan]

@Japanfan No coach will charge $20/hour.

Maybe it was rates from some years ago. I did think that $20 per hour was kind of low.

 

[MsZem]

Mirai has more than enough of a resume to coach students/professionals. Majority of coaches have never made it to the Olympics or won a national title/Olympic medal. Lots of respected coaches have far less accolades. In fact, the best coaches often have no Olympic medals or titles. They have had to figure out how to make do with less talent. Those are the people who are best at teaching as opposed to natural talents.

Indeed, being a successful practitioner (or athlete, in Mirai's case) does not necessarily translate into being able to teach these things successfully. Mirai may choose to pursue a full-time coaching career in the future, but she will have to prove herself as a coach. So I'm not sure why you think her resume as an athlete is really relevant to her ability to train hockey players or competitive skaters.