Is money a good incentive for athletes?

When I was involved with Cameron van der Burgh and the Springboks – nobody ever spoke about money, only about winning.

Dr Henning Gericke, sport psychologist

Gold is everything! Money won’t be the main motivation.

Dr Henning Gericke, sport psychologist

South Africa announced its Olympic team today.

The Money Show’s Bruce Whitfield interviewed Dr Michael Goldman, Adjunct Professor in Sport Management at Gordon Institute of Business Science (Gibs).

Goldman explored the South African Sports Confederation and Olympic Committee’s (Sascoc) bonus structure.

All medallists at both Olympic and Paralympic Games will receive incentives as follows (athlete/coach):

  • Gold: R400 000/R100 000

  • Silver: R200 000/R50 000

  • Bronze: R 80 000/R20 000

Whitfield also spoke to sport psychologist Dr Henning Gericke about whether or not money is a good incentive for an athlete.

Scroll down for quotes from the audio below.

We’re incentivising more than the United States!

Dr Michael Goldman, Gibs

Gold means everything! But, for many of them, they’ve been trying to survive on a very small stipend.

Dr Michael Goldman, Gibs

Olympic sports are, on the whole, less commercial.

Dr Michael Goldman, Gibs

Click here (then“like” the page) to follow Bruce on Facebook.

Enter your email address in the form below to receive a newsletter containing the seven most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.

Subscribe to our Business Wrap Newsletter

702 welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the 702 community a safe and welcoming space for all.

702 reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

702 is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
Naspers-owned Tencent buys 5% of Elon Musk’s Tesla

Naspers-owned Tencent buys 5% of Elon Musk’s Tesla

Tesla’s share price immediately shot up by 3% after the news broke.

Capitec Banks adds 1.3 million clients (and 1629 jobs)

Capitec Banks adds 1.3 million clients (and 1629 jobs)

The bank also reported 18% growth in earnings. The Money Show’s Bruce Whitfield interviews Capitec Bank CEO Gerrie Fourie.

Why try to remove such an outstanding Minister? - Nick Binedell (Gibs)

Why try to remove such an outstanding Minister? - Nick Binedell (Gibs)

The Money Show’s Bruce Whitfield interviews Gordon Institute of Business Science’s Professor Nick Binedell.

Guptas vs Gordhan – it’s open war!

Guptas vs Gordhan – it’s open war!

The Money Show’s Bruce Whitfield interviews Intellidex MD and Financial Analyst Stuart Theobald.

People are flocking to ‘F*ckUp Nights’ to discuss bouncing back from failure

People are flocking to ‘F*ckUp Nights’ to discuss bouncing back from failure

The road to success is paved with f-ups. This movement connects people who share stories of failure and strategies for success.

SuperSport United’s Michael Morton gets real about money

SuperSport United’s Michael Morton gets real about money

The Money Show’s Bruce Whitfield interviews Morton about his attitude to money (hopes and fears, successes and failures, etc.).

Popular articles
It's not the end of the road... Top tips to improve your matric

It's not the end of the road... Top tips to improve your matric

"Recognise that it’s not the end, it’s the beginning." Expert advise for school-leavers who want to improve their results.

What does funny-man Marc Lottering fear (and love, and hope for…) about money?

What does funny-man Marc Lottering fear (and love, and hope for…) about money?

Every week The Money Show’s Bruce Whitfield interviews a famous person about her or his attitude to money. Enter Marc Lottering…

William Kentridge (world-renowned South African artist) opens up about money

William Kentridge (world-renowned South African artist) opens up about money

Bruce Whitfield interviews one of our most beloved artists of all time about his money hopes, fears, successes, failures, etc.

NSFAS to reopen 2017 applications

NSFAS to reopen 2017 applications

National Student Financial Aid Scheme says it will reopen 2017 loan applications after receiving requests for deadline extension.

Right now, these are the best shares to buy on the JSE (according to Adviceworx)

Right now, these are the best shares to buy on the JSE (according to Adviceworx)

Bruce Whitfield interviews a Portfolio Manager about what she believes are the hottest stocks right now.

5 advantages of leasing instead of owning a car (lower monthly payments!)

5 advantages of leasing instead of owning a car (lower monthly payments!)

Want (or need) a new car? Dale Scorer (a wealth manager at AlphaWealth) reckons you should consider leasing.

3 easy questions could bag you R2000!

3 easy questions could bag you R2000!

WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...

Blesserfinder: Matching you with a sugar daddy near you

Blesserfinder: Matching you with a sugar daddy near you

Is social trend Blesserfinder, where girls are allegedly matching up with rich 'benefactors' in exchange for sex, a real thing?