Friday, July 22, 2016

Crowdfunding for the Olympics

As loyal readers may have noticed, I am excited about the upcoming Summer Olympic Games in Rio.

While the Olympics is sure to be heavily watched, the Games are not that lucrative for many of the participants. The average Olympian supposedly only makes around $20,000 a year from sponsorships and has significant travel, medical, and coaching costs.

On the GoFundMe website alone, there are over 140 campaigns in their "Athletes Competing in Rio" category. Collectively, the campaigns have raised over $680,000.

Here are a few stories about Olympic athletes using crowdfunding. (Inc., Forbes, USA Today).

For those who will be attending the SEALS Conference and are interested in crowdfunding, my co-blogger Joan Heminway is moderating a discussion group on "The Legal Aspects of Small Business Finance in the Crowdfunding Era" on Tuesday, August 9 from 9am-12pm, which promises to be interesting. Most of the Olympic athletes appear to be using gift-based crowdfunding, but in the SEALS discussion group, I will present on a proposal for firms to use equity crowdfunding in connection with building athletic communities that could include Olympic athletes.

Crowdfunding, Haskell Murray, Sports | Permalink


That's one of the great sessions at SEALS I will miss since I will be (ironically) in Rio at the Olympics. Seems like a great discussion topic.

Posted by: MARCIA NARINE | Jul 22, 2016 12:56:44 PM

We will miss you, Marcia! But do enjoy Rio, one of my favorite cities. So jealous.

Posted by: joanheminway | Jul 22, 2016 3:04:55 PM

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