In 2020, as the world navigated the impacts of the COVID-19 pandemic, Keely Hodgkinson, a promising 800-meter runner from the United Kingdom, faced a challenge many Olympic hopefuls have to try and overcome: a lack of funding.
Gear, training facilities, coaches, camps, races—the list goes on and on, but what does it cost?
Money. Lots and lots of money.
It’s an unfortunate reality. If you want to go far in athletics, it’s going to cost you… a lot.
So, what does an Olympic-sized investment look like?
The overall investment usually begins when a young athlete is still a child. Parents can expect to spend anywhere from $7,500 to $9,000 per year on coaching, gear, travel and training, for kids competing in high-level sports, according to recent studies.
As kids grow up and begin to realize their potential, they step into higher levels of sport. At the elite level, with the Olympics within arms reach, a hopeful athlete will have to rely on a group of professionals, including coaches, strength coaches, nutritionists, doctors, physiotherapists, managers, and agents, in their corner (at a hefty cost, of course).
Due to the pandemic, British Athletics did not expand its World Class Performance Programme that year, leaving Hodgkinson without the financial support she needed to prepare for the Tokyo Olympics. As a result, she relied heavily on her parents for financial assistance.
According to Team USA, the basic costs of producing an Olympian can easily exceed $20,000 USD per year. This figure factors in the costs of the athlete’s primary coach, strength coach, sports performance support, physiotherapy, and massage.
What it doesn’t take into account are non-sponsored equipment, recovery gear, training camps, rent, groceries, insurance, and other basic costs of living.
And the fact of the matter is that most athletes aren’t getting a cut.
While some athletes, such as Usain Bolt, have used their Olympic fame to kickstart their own careers and have earned multi-million dollar endorsements.
However, the tens of thousands of other athletes who can call themselves Olympians cannot say the same thing despite making the same sacrifices to pursue that Olympic glory.
Hodgkinson’ and her ‘s situation caught the attention of Barrie Wells, a Liverpool-born millionaire and philanthropist with a deep passion for athletics.
Wells, who had previously sponsored several athletes during the London 2012 Olympics, was alerted to Hodgkinson’s potential by her coach, Trevor Painter, and her mentor, former 800-meter runner Jenny Meadows. Both Painter and Meadows explained Hodgkinson’s extraordinary talent, prompting Wells to take action.
Recognizing her potential, Wells decided to fund Hodgkinson personally, matching the £15,000 per year ($19,000 USD) she would have received from National Lottery funding.
Hodgkinson says this support was instrumental in allowing her to travel to Florida to train in the warmer weather and become more heat acclimated as part of her preparation for the Olympics. Throughout her training, Hodgkinson kept Wells informed about her progress, a journey that he was now financially and emotionally invested in.
Wells, who had once been a competitive runner himself, was astonished to hear that British Athletics had not funded Hodgkinson. He says he saw in her the future of UK athletics and was determined to ensure she had the resources to succeed. His investment paid off when Hodgkinson secured a silver medal in the 800 meters at the Tokyo 2020 Olympics.
Then, it paid off again.
Hodgkinson upgraded her Olympic silver medal from 2020 to an Olympic gold medal last week in the 800m at the Paris 2024 Olympic Games.
Despite his substantial contribution, Wells remained humble, attributing Hodgkinson’s success to the dedication of her coach and mentor. Nevertheless, his support was undeniably a massive factor in her Olympic journey.
