De Grasse must choose between books, bucks
Winning bronze at worlds means Canadian has some tough decisions to make
For Andre De Grasse, a thousandth of a second could be worth several hundred thousand dollars.
Sunday morning, he and American Trayvon Bromell crossed the line tied for third in the men’s 100-metre final at the IAAF world championships, their times identical even when expanded to four digits — 9.911 seconds.
If De Grasse had finished a millisecond slower Bromell would have claimed third on his own. But the dead heat prompted the IAAF to award two bronze medals and set De Grasse up for some healthy paydays.
The Canadian sprint star earns a $20,000 (U.S.) bonus for the bronze from the IAAF, and could win a share of a prize ranging from $20,000 to $80,000 if Canada medals in the 4x100-metre relay this Saturday. And beyond those figures lay the untold sums various sponsors will pay to sign Canada’s latest sprint star to an endorsement deal. De Grasse’s dilemma? He’s on scholarship at the University of Southern California, where remaining eligible to compete means maintaining his amateur status. Claiming the bonuses he’s earned means turning pro and skipping his final year of NCAA competition. Remaining amateur means forfeiting the money he won.
Earlier this summer, the 20-yearold De Grasse was adamant about earning his degree, but says the medal has altered the equation.
“A lot has changed right now . . . I just got a bronze medal. I’ve got to talk to my coach and make what’s best for me and my family, so we’ll go from there,” De Grasse said. “Whatever my mom says, that’s my goal, to get my degree first.”
Beyond the IAAF bonuses, it’s not clear how much money De Grasse stands to collect by now turning pro.
While experts estimate world champ Usain Bolt demands appearance fees of at least $350,000, Montreal-based track and field agent Kris Mychasiw says De Grasse’s medal gives him the leverage to demand at least $20,000 per race.
But for most runners, shoe and apparel contracts represent their steadiest income. Bolt’s deal with Puma earns him a reported $10 million annually. Mychasiw estimates De Grasse’s rare mix of accomplishments (world bronze and two Pan Am gold) and upside (he’s only been sprinting three years) could earn him a shoe deal worth $700,000 a year.
“There’s a lot of companies that want to add him to their Rio campaign,” Michasiw says. “He’s the top guy in a country that has a strong legacy of 100-metre sprinters.”
De Grasse would be a fool to stay in school, right? Not necessarily, says Tony Sharpe, long-time coach and mentor to De Grasse.
He points out that without an offer, nobody knows how much money is coming to De Grasse.
Neither, he says, do we know how much money various shoe companies’ marketing budgets have left this fiscal year. If it’s already been spent it might be better to wait until fiscal 2016, he says.
Besides, Sharpe says turning pro now would alter the formula that bred the results that made De Grasse so visible in the first place. Staying in school another season and turning pro next spring are probably a smaller gamble than they seem, he says.
Especially if De Grasse keeps developing.
“If Andre goes to Rio and does what I think he can do, which is win . . . cha-ching,” Sharpe says. “Who cares about what these guys are offering you today. And what’s the worst-case scenario? He’ll have a degree. To make a proper decision, you really need to understand all the components.”
Canadian record co-holder Bruny Surin says De Grasse needs to make sure apparel companies don’t just offer money and gear but also feature him prominently in ad campaigns.
“His market value is highest right now,” Surin says. “If something happens . . . that value is going to go down.”
Sharpe, who discovered De Grasse at a high school meet three years ago, is already leery of the commercialization of De Grasse’s growth as an athlete. He’s running out of patience for agents, legitimate and otherwise, who he says are trying to dazzle De Grasse with talk of big contracts, hoping to position themselves for some trickle-down wealth.
But even Sharpe recognizes that sport at this level is a business, and that in the time it takes to run 100 metres a window of opportunity can slam shut.
“If somebody comes with a number you cannot refuse, then you’ve got to do what you’ve got to do,” Sharpe says.
“You’ve got to be financially responsible.”