Sen. Schumer asks House to make Olympic prize money tax exempt

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While the financial rewards that come with winning an Olympic medal is a mere drop in the bucket for some of the athletes representing the United States in Rio, others are in situations where the monetary bonuses can provide a significant boost to their wallets. The U.S. Olympic Committee pays gold medal winners a bonus of $25,000, with silver medalists getting $15,000 and bronze medalists $10,000. Those winnings are taxed, so while an athlete with many endorsements and a high salary in their chosen sport may not have much of an issue paying the taxes, others who aren’t in that position stand to lose a considerable amount of money.

With that being the case Senator Charles Schumer of New York is urging the House of Representatives to make the prizes tax-exempt for future Olympians. This doesn’t do much good for those competing in Rio, as the bill was approved by the Senate but remains in the House as they’re on recess until September 6, but to say the least it would be a move appreciated by future Olympians.

The bill would also exempt prizes for Paralympic athletes. The exemption would not apply to commercial endorsements.

“Our Olympian and Paralympic athletes should be worried about breaking world records, not breaking the bank, when they earn a medal,” Schumer said.

While some athletes reap the rewards from product endorsements and professional sports salaries, many use the four-year period between Olympic Games to not only train and compete but raise the money needed for those endeavors as well. The money that comes with earning a medal can help those athletes handle the costs that come with the quest for an Olympic medal, and it can also help them plan for what’s next following the Olympics. And not having to plan on losing a certain percentage of those fund to “Uncle Sam” would only make the process that much more comfortable for them.

Ironman Kona World Championships return for first time in three years, live on Peacock

Ironman Kona World Championship
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The Ironman Kona World Championships return after a three-year hiatus with a new format, live on Peacock on Thursday and Saturday at 12 p.m. ET.

The Ironman, held annually in Hawaii since 1978, and in Kailua-Kona since 1981, was not held in 2020 or 2021 due to the coronavirus pandemic.

The world championships made a one-time-only stop in St. George, Utah, on May 7 to make up for the 2021 cancellation. The winners were Norway’s Kristian Blummenfelt, the Tokyo Olympic triathlon champion, and Swiss Daniela Ryf, who bagged her fifth Ironman world title.

Both are entered in Kailua-Kona, where the races are now split between two days — Thursday for the women and Saturday for the men.

An Ironman includes a 2.4-mile swim, 112-mile bike and a marathon — totaling 140.6 miles of racing. It takes top triathletes eight hours to complete. Very arguably, it crowns the world’s fittest man and woman.

WATCH LIVE: Ironman Kona, Thursday, 12 p.m. ET — STREAM LINK

Ryf, 35 and a 2008 and 2012 Olympian, can tie retired countrywoman Natascha Badmann for second place on the women’s list at six Ironman world titles. Only Zimbabwean-turned-American Paula Newby-Fraser has more with eight.

The field also includes German Anne Haug, the 2019 Kona champ and only woman other than Ryf to win since 2015. Brit Lucy Charles-Barclay, the Kona runner-up in 2017, 2018 and 2019, returns after missing the St. George event due to a stress fracture in her hip.

Blummenfelt, 28 and in his Kona debut, will try to become the youngest male champion in Kona since German Normann Stadler in 2005. His top challengers include countryman Gustav Iden, the two-time reigning Half Ironman world champion, and German Patrick Lange, the 2017 and 2018 Ironman Kona winner.

Also racing Saturday is Dallas Clark, a retired All-Pro NFL tight end with the Indianapolis Colts, and Tony Kanaan, the 2013 Indy 500 champion who completed the 2011 Kona Ironman in 12 hours, 52 minutes, 40 seconds.

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Joan Benoit Samuelson, Olympic marathon champ in 1984, runs London Marathon at 65

Joan Benoit Samuelson
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Joan Benoit Samuelson, the first Olympic women’s marathon champion in 1984, ran her first 26.2-mile race in three years at Sunday’s London Marathon and won her age group.

Benoit Samuelson, 65, clocked 3 hours, 20 minutes, 20 seconds to top the women’s 65-69 age group by 7 minutes, 52 seconds. She took pleasure in being joined in the race by daughter Abby, who crossed in 2:58:19.

“She may have beaten me with my replacement knee, but everybody said I wouldn’t do it! I will never say never,” Benoit Samuelson said, according to race organizers. “I am a grandmother now to Charlotte, and it’s my goal to run 5K with her.”

LONDON MARATHON: Results

Benoit Samuelson raced the 1987 Boston Marathon while three months pregnant with Abby. Before that, she won the first Olympic women’s marathon at the 1984 Los Angeles Games, plus the Boston Marathon in 1979 and 1983 and the Chicago Marathon in 1985.

Her personal best — 2:21:21 — still holds up. She ranks sixth in U.S. women’s history.

Benoit Samuelson plans to race the Tokyo Marathon to complete her set of doing all six annual World Marathon Majors. The others are Berlin, Boston, Chicago and New York City.

“I’m happy to finish this race and make it to Tokyo, but I did it today on a wing and a prayer,” she said, according to organizers. “I’m blessed to have longevity in this sport. It doesn’t owe me anything, but I feel I owe my sport.”

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