Gabby Douglas' mother had to file for bankruptcy this year due to costs of daughter's training

[Anonymous]

I wonder if the Olympic winner is over 18 can the parents claim part of his/her future earnings to recoup the costs the spent training their child? This is assuming that the child will not or does not voluntarily financially assist his parents with any outstanding debt from his/her training

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:A mobile phone is NOT a necessity.
I am sure that GD was getting help with the gym fees. The coaches often go without pay if a champ is likely to win. Also, many organizations pay for training by that time. Gabby, watch your purse.

I think at this point it probably is. I personally can't imagine functioning, either for personal or work purposes, without one.

Plus since her daughter was living in another state it was probably less expensive to have a mobile with free long distance than pay for long distance on a land line phone.

Exactly. And with 3 other kids to keep track of, I would consider a mobile phone a necessity.

Land lines give free long distance. This is the attitude that causes bankruptcy.

[Anonymous]

Anonymous wrote:Gabby already has many endorsement deals and her medals fetch $25k for gold each.

There have been stories that the dad hasn't been in the picture (even besides his being away for military duty). Hopefully, he won't raid Gabby's funds.

Now for the mom -- Gabby will be supporting her and the whole family, I bet, for years to come. They all gave up a lot for her, and now it is her turn. That's how families should work.

Yup, sell your child's childhood for the gravy train. I'M RICH BIATCH!!

[Anonymous]

It seems like a wise investment to me. Her daughter is going to be rolling in millions of dollars now...

[Anonymous]

Doesn't a bankruptcy declaration mean that some creditors aren't going to get paid? In that case, it seems like a pretty unethical part of the strategy.

[Anonymous]

She will probably make no more than about 8-15 million. Liukin is only worth 2 million, so things don't have to pan out. Even on the top end, she will likely live another 85 years, so she can't spend, spend, spend.

[Anonymous]

Does anyone else wonder if this is the real reason that Gabby wanted to quit earlier this year - that she couldn't deal with the stress and/or guilt of what her training was doing to the family finances?

[Anonymous]

Finishing out of the medals today certainly isn't going to help her endorsement revenue. Yikes.

[Anonymous]

Anonymous wrote:She will probably make no more than about 8-15 million. Liukin is only worth 2 million, so things don't have to pan out. Even on the top end, she will likely live another 85 years, so she can't spend, spend, spend.

They will always have some opportunities though, unless they really screw up. Shawn Johnson wasn't even the golden girl and she did DWTS, just saw her on a promo for a new NBC show, etc.

Carly Patterson was on some design show recently. Probably didn't make a ton but I'm sure got a nice check just the same. Hell, those kids from Laguna Beach can make a a fair amount of money showing up at schools and talking about their drunk driving arrest; these girls will have opportunities to speak, show up to things and get paid, write a book, endorse a product, etc.

It seems like many of them go onto college and successful careers, even if they don't make millions. They are driven and disciplined and that serves them well later in life.

[Anonymous]

Anonymous wrote:But her debts are to sprint and tmobile and orthontia and student loans. Her debts aren't to a gymnastics training facility.

That would stand to reason, wouldn't it? Why do you think she doesn't have money to pay her cell phone bill and orthodontist?

[Anonymous]

Anonymous wrote:Finishing out of the medals today certainly isn't going to help her endorsement revenue. Yikes.

people rarely remember who wins the event finals. This is a ridiculous argument. She has at least one more chance at a medal, too.

No one can ever can never take away her all-around medal. It puts her in a small group of women who have ever won that title. That is a huge accomplishment. And she may continue on and compete in Rio, who knows? She will ALWAYS be the Olympic champion, forever and ever.

The cost of training is always tough. It's why most without means cannot keep going in certain sports even if they are incredible. I hope whatever endorsement deals she gets help her family out. I'm sure that will make her happy that these decisions paid off for them.

[Anonymous]

Anonymous wrote:Does anyone else wonder if this is the real reason that Gabby wanted to quit earlier this year - that she couldn't deal with the stress and/or guilt of what her training was doing to the family finances?

I wonder how much visibility Gabby had into her family's finances. I.e., was her mom able to kind of hide the difficulties so Gabby could focus on gymnastics?

And for Lochte - the articles I've seen don't indicate the parents bankruptcy is related to his training. Lots of homes in Florida are in foreclosure and it sounds like it may have been poor decisions on his parents' part.

[Anonymous]

Anonymous wrote:Finishing out of the medals today certainly isn't going to help her endorsement revenue. Yikes.

Why did you have to mention that in this thread???

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:A mobile phone is NOT a necessity.
I am sure that GD was getting help with the gym fees. The coaches often go without pay if a champ is likely to win. Also, many organizations pay for training by that time. Gabby, watch your purse.

I think at this point it probably is. I personally can't imagine functioning, either for personal or work purposes, without one.

Plus since her daughter was living in another state it was probably less expensive to have a mobile with free long distance than pay for long distance on a land line phone.

Exactly. And with 3 other kids to keep track of, I would consider a mobile phone a necessity.

Land lines give free long distance. This is the attitude that causes bankruptcy.

You're an idiot. If she had a 10k lord and taylor bill, I would agree there was financial poor planning, but don't assume that someone foregoing saving $15 a month by not having constant access to a cell phone is irresponsible. You obviously also fault the poor for being poor.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Does anyone else wonder if this is the real reason that Gabby wanted to quit earlier this year - that she couldn't deal with the stress and/or guilt of what her training was doing to the family finances?

I wonder how much visibility Gabby had into her family's finances. I.e., was her mom able to kind of hide the difficulties so Gabby could focus on gymnastics?

And for Lochte - the articles I've seen don't indicate the parents bankruptcy is related to his training. Lots of homes in Florida are in foreclosure and it sounds like it may have been poor decisions on his parents' part.

Douglas is 16, while Lochte is 28. Please tell me he is supporting himself and the cost of his own training and not relying on his parents.