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#1
05-30-2004, 01:32 PM
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How big is winning 5M?
This is a question for all of you Americans. I live far away from the US, so I'd like to get the proportions of winning 5M$ in a sport event, considering the WSOP as a sport event, of course.
So, how much can an individual win, by taking 1st place in a one, really big tennis/golf/boxing/swimming/squash/chess whatever event? Where does this 5M$ win stand in proportion? 
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#2
05-30-2004, 01:47 PM
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Re: How big is winning 5M?
[ QUOTE ]
This is a question for all of you Americans. I live far away from the US, so I'd like to get the proportions of winning 5M$ in a sport event, considering the WSOP as a sport event, of course. So, how much can an individual win, by taking 1st place in a one, really big tennis/golf/boxing/swimming/squash/chess whatever event? Where does this 5M$ win stand in proportion? [/ QUOTE ] Winning The Masters (golf) is about $1M. Boxing is probably the only thing listed that can pay comparable purses to $5M. Swimming/squash pay beans. Don't know about chess. eastbay
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#3
05-30-2004, 02:16 PM
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Re: How big is winning 5M?
$5 mil first prize is the most I've ever heard of in any sport.
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#5
05-30-2004, 02:48 PM
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Re: How big is winning 5M?
Think boxing purses are the only one week/one night/one event prizes that are in the range with the 5 Million bucks. Smarty Jones owners stand to pick up a second 5 million dollar bonus if their horse wins the Belmont after winning the Derby and Preakness (they won one already from the track owners in Arkansas for winning the Derby Prep races down there and winning in Kentucky). Some boxing purses can go to 10 million or so for a Lennox Lewis heavyweight title fight. The biggest season long pay is Alex Rodriguez at about 25 million per year for baseball. Endorsements for say Tiger Woods or LeBron though easily eclipse that. LeBron signed for 90 million with Nike, though that is for like 10 years of "work" hehehe/.
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#6
05-30-2004, 02:51 PM
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Re: How big is winning 5M?
Some boxing purses are WAAAY over 5 mil.
Yes but there is some debate as to how that money is handled. How much of a $10 Mil purse actually makes it to the fighter? As for the relative size of the win. If you can live on $200K a year you have no need to work any longer(I believe the average U.S. household makes $75K or maybe that's just Seattle). The tax man is going to come and take a nice chunk but it's still life changing cash, not enough to live "phat on the hog", but plenty to live well. Now a fool like myself would probably buy a few more properties and stick myself into a full time job of managing the whole mess.
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#8
05-30-2004, 03:32 PM
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Re: How big is winning 5M?
The lottery pays over $100 million sometimes. I think a poker tournament is much more like a "skillful lottery" than a sporting event because even if you're #1 in the world by a huge margin the chance of winning the WSOP event in your lifetime is pretty slim. Heck even if you could see everyone's cards you would be likely to lose.
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#9
05-30-2004, 03:44 PM
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Re: How big is winning 5M?
Boxing is quite different because the athletes are paid based on fame and not how they actually do in the fight. They decide ahead of time who gets more money. Often rematches don't happen, especially when the more famous fighter lost in the first one, because the winner wants to get the lions share of the money and the other guy doesn't want to give that up.
Similarly baseball, basketball, and American football players at the top make much more than 5 million per year. That's not per event of course but the guys at the top are basically being paid to win the championship which most do not of course. If memory serves me correctly Michael Jordan was paid something like 35 million dollars for his last season with the Bulls. Sports where you win money based on winning are nowhere close to 5 million. The only one I can think of is the triple crown of horse racing. If you own the horse that wins the triple crown then VISA will pay you 5 million. This promotion is pretty new but nobody has won the triple crown for some time but that's likely to change this year.
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