The World Competes

One of the factors that is affecting the 2010 Vancouver Olympics, and will likely affect the Olympics to come for several years, is the recession. Not only is the average person strapped for cash, so are the Olympic athletes.

Some sponsors have had to cancel their contracts. Home Depot, which used to pay Olympic employees full time pay for part time work so that they could have time to train, has canceled their sponsorship. While many top-tier athletes are still getting sponsorship to the games, second-tier athletes often have to pay their way to events, as well as pay more money for their equipment. This can be taxing to their families, and can also cause athletes to have to train less in order to earn money.

While some sponsors have cut back, Steven Colbert (of The Colbert Report) sponsored the US Speed Skating team.

Although many people have been affected by the economy, I know that not everybody is. If you are doing well economically, perhaps you could help support Team USA (that is, of course, if you are rooting for the US). I know that Britain’s Olympic team is also going through difficult times, and presumably other countries as well, so if you are supporting another country, I urge you to support them as well. If you’re in a giving mood, you may want to send a little to disaster victims in Haiti as well, if you haven’t already.

Another interesting recession-related development is that the company that owns the Whistler Ski Resort could end up in foreclosure proceedings in the middle of the Winter Olympics. The Whistler Ski Resort, as well as the locations where the luge and bobsled competitions are going to be held, could be auctioned off during the games. I’m sure that something will probably be worked out, if only as a temporary measure, but that could lead to some interesting drama.

Another (fun) way to support the Olympics is to drink Coca-Cola and purchase Team USA gear. If we support the sponsors, they will hopefully continue to support the Olympics, and will not drop their contracts.

For more information, please see The Seattle Times and Crain’s New York articles.