品牌价值-超越讲台-奥运会品牌业务 Beyond the Podium The business of brands at the Olympic Games

globalbrandintelligencesince1996

september|2024

thePodium

thebusinessofbrandsattheolympicGames

Beyond

BrandFinanceJournal2024Olympics|Contents

Contents

BrandFinanceJournal2024Olympics

FOREWORD6

byJamieHyman,Editor-in-Chief,GlobalHeadofCommunications,BrandFinance

INTRODUCTION9

byHugoHensley,HeadofSportServices,BrandFinance

WHATTHERINGSAREWORTH10

ValuingtheOlympicsbrand

byHugoHensley,HeadofSportServices,BrandFinance

REALISINGTHEBENEFITS14

OFTHEOLYMPICGAMES

byJohnDavis,Chair,BrandNewView

ANALYSINGHOWEFFECTIVE17

TOPSPONSORSHIPSAREFORBRANDS

byHugoHensley,HeadofSportsServices,BrandFinanceandMaialenMartinez,Consultant,BrandFinance

FITCHECK20

ApparelbrandscompeteasfiercelyasathletesforOlympicdominance

byAnnieBrown,ValuationDirector,BrandFinance

GOINGFORGREEN26

Sustainabilityatthesummergames

byRobertHaigh,Strategy&SustainabilityDirector,BrandFinance

andSofiaLiszka,Strategy&SustainabilityConsultant,BrandFinance

OLYMPICSFANS29

Thedatabehindthedevotees

byScottMoore,SportsServicesSeniorConsultant,BrandFinance

OLYMPICMEDALSBOOSTSOFTPOWER34

BUTHOSTING?NOTSOMUCH

byKonradJagodzinski,PlaceBrandingDirector,BrandFinanceandArturBryzghalov,PlaceBrandingManager,BrandFinance

PARTNERSHIPWITHPURPOSE38

bySuzanneKounkel,ChiefMarketingOfficer,DeloitteGlobal&DeloitteUS

THEPOWEROFSPORT40

INBUILDINGBRITAIN’SBRAND

byKateTaylorTett,Director,GREATBritain&NorthernIrelandCampaign

September2024|BrandFinanceJournal|3

Sponsorship&

ActivationStrategy

Usesponsorshiptrackingtodrivestrategyandfuturerelationshipswiththerightsholder,andthe

activationsusedtomaximisetheirpartnershipeffectiveness.

Sponsorship

ReturnonInvestment

Maximise

Valuefromyour

Sponsorships

Areexistingsponsorsseeing

agoodreturnoninvestment?

Sponsorshipopportunityanalysis&ComparableDealBenchmarking.

PartnershipTracking

Continuousresearchtotrack

thereachandeffectivenessof

sponsorshipactivities.Thisisaninvaluableservicetopartners,andamusthavetoprofessionalise

thepartnershipoffering.

SponsorshipProspectus

Astrongsponsorshipprospectuscanelevateabrand’soffering

abovethatofthecompetitionandprofessionalisethecommercialstrategy.

BrandEvaluation,

Strategy,Positioning

UnderstandingwhatdrivesBrandStrengthandhighlightinghowthiscanbeimprovediskeytosecureasuccessfullong-termcommercialfuture.Helpdevelopbrandstrategytodrivegrowthandachieve

businessgoalswithinthecontextofthemarketitoperatesin.

Sponsorshipsareoften

amongstthemostextensive,

influential,andexpensivebrandbuildingactivitiesacompanycanundertake.

Weusethesametechniques

appliedinbrandvaluation,such

asresearch,financialmodelling,

andstrategicanalysis.Thisapproachhelpsmarketingandfinanceanagerstounderstandtheeffectivenessof

sponsorshipsandmaximiseROI.

Advertisingequivalency,and

traditionalresearchinterpretationofsponsorships,failstoadequatelyaddresskeyquestionsaroundbrandbuildingandvaluecreation.

BrandFinancetakesabroader

viewtounderstandsponsorshipsinthecontextofachievingbrandandbusinessobjectives.

enquiries@

JamieHyman|Foreword

Foreword|JamieHyman

6|BrandFinanceJournal|September2024September2024|BrandFinanceJournal|7

Foreword

byJamieHyman,Editor-in-Chief,GlobalHeadofCommunications,BrandFinance

Onthesurface,thememe-ficationoftheOlympicsmightseemlikeanegativede-velopmentformarketers.Theemergenceofviralcontentoftenfeelsrandom.NooneforesawtheunexpectedboostfortheParmigianoReggianobrandafteranXusersurfacedphotosofItaliangymnastandsilvermedallistGiorgiaVillaholdingagiantwheelofcheese.

Giventheunpredictabilityofmemepop-ularity,howcanmarketingteamsensurereturnonasponsorshipinvestmentifthey’reunabletoreliablyintegrateviralityintotheirstrategies?

Orworse,canbrilliantlyexecutedmar-ketingcampaignsfallflatbecausetheworld’sattentionisfocusedonanawk-wardAustralianbreakdancer?

Ofcourse,brandsaren’twhollysubjecttothewhimsofthemassesandcanpo-sitionthemselvesforabetterchancetogoviral.InheranalysisofapparelbrandsponsorshipofOlympicgamesovertheyears(page20),BrandFinanceValuationDirectorAnnieBrownoutlinesthemagicblendofcreativity,innovation,andop-portunitytoreachaglobalaudiencethatresultedinaviralmomentforMongoliandesignhouseMichel&Amazonka.

TheirteamkitsblendingtraditionandinnovationearnedtheadmirationofbothOlympicsfansandfashionistasaroundtheworldduringtheOpeningCeremo-nies.Anniealsofollowsthedecades-longrivalrybetweenathleticweargiantsNikeandAdidas,includingtheguerillatacticsonebranddeployedtograbattention.

Whilemarketersostensiblycantrytointegrateviralityintotheirplans,per-hapsabetterapproachistofocuslesson

"Thepopularity

ofOlympicmemes

doesn’tdistract

fromthemagic

oftheGamesbut

rather,memes

amplifythequalities

thatarealreadythe

mainsellingpoints

forsponsoring

brands."

whatcan’tbecontrolledandappreciatethepowerofmemestostrengthenandaddvaluetothebrandoftheOlympicGames.

Asbest-sellingauthorJohnDavisout-linesinhisarticleonhowbrandscanmaximisethereturnsonasponsorshipinvestment(page14),thereisanephem-eralappealtothegamesthatkeepscom-paniescomingbackeveryfouryears.(Oreverytwoyears,forbrandsthatsponsorboththeSummerandWinterGames.)TheOlympicsarewidelyperceivedasexciting,wholesome,andunifying.I’darguethatthepopularityofOlympicmemesdoesn’tdetractfromthemagicoftheGamesbutrather,amplifiesthequalitiesthatarealreadythemainsell-ingpointsforsponsoringbrands.

IsthereanythingmorewholesomethanaseriesofimagesdepictingChinesegymnastseeingandtheninnocentlyjoiningherpodium-matesinpretendingtobitetheirmedals?MaybewatchingSnoopDoggbringsomeunexpectedjoyasheshowedupalloverParistocom-mentateandrootforAmericanathletes?

HowexcitingwasitwhenBritishOlym-pianAlexYeetooktheleadofthemen’sindividualtriathlonjust400metersfromthefinishline?OrwhenAmericangymnastStephenNedorosciktookoffhisglassesandnailedhispommelhorseroutine,overcomingspecialistscepti-cismandhelpingUSAmen’sgymnasticswintheirfirstmedalin16years?

AndrememberwhenOlympicsfansaroundtheworldunitedindelightwatchingTurkishshooterYusefDikec’soh-so-casualcompetitionstylethatearnedhimasilvermedal?

Andunitedagaintospeakoutagainstthetransphobic,falseallegationsagainstAlgerianboxerImaneKhelif?

JohnarguesthattheenduringmagicoftheOlympicsstemsfromthestoriesbe-hindthegames,aphenomenonmostofusparticipateinastheworldtunesintonotonlywatchtopathletescompete,butalsousesocialmediatogivefansapeekbehindthecurtainintotheOlympicVil-lage.AmericanrugbyplayerIlonaMa-herwasparticularlyadeptcreatingviralcontentonTikTok,sharingfunnyclipsandusingherplatformtoencouragebodypositivitybytellingstoriesaboutherownhistoryofbeingshamedforamuscularphysique.

MarketersshouldviewOlympicmemesnotasadrawbackorchallenge,butrath-er,asanotherlayerofstorytellingandopportunitythatcontinuestoamplifytheappealandattractionoftheGamesthemselves.Whileit’sprobablynotpos-sibletohavecompletecontroloverviral-ity,marketerscanembracethatmemesenhancetheOlympics’bestqualitiesandcreatenewopportunitiestoimpactfans

andshowcasethestoriesofathletesandspiritofcompetition.

Thememe-ficationoftheOlympicswillonlycontinuetohelpdriveupthevalueofitsbrand,avaluationperformedbyBrandFinance.

BrandFinanceconductedavaluationoftheOlympicsbrandandconcludeditsvalueisawhopping$11.4bn,up37%injust3years,sincethepostponedTokyo2020games.Onpage10,DirectorofSportsServicesHugoHensleyrevealshowhisteamvaluedthebrand,howitstacksupagainsttheothermajorsport-ingevents,andhowtheevolvingrolesofsponsorship,broadcasting,andticketingwillcontinuetoimpactthebrand’svalueforgamestocome.

GiventheproliferationofsocialmediaasaplatformtodiscusseveryaspectoftheOlympics,marketerswouldbewisetoconsiderhowmemescansupportorstrengthentheirstrategies,ratherthanpushingagainstanunpredictableforce.Thisincludescontingencyplansforwhattodoshouldanegativestorygovi-

ral,somethingmarketingteamsshouldbeabletoanticipate.

Anotherbenefitthatmightgetlostinstrategicplanning,execution,andpost-gamesamplificationisthatmemesarejustplainfun.DoyouknowtheMuffinMan?NorwegiandistanceswimmerHenrikChristiansendidnotwinamed-al,buthealmostdefinitelywonmostviralOlympianviaahandfulofTikTokvideosprofessinghisloveforthechoco-latemuffinsservedintheOlympicdin-inghall.ThishasearnedHenrikhalfamillionTikTokfollowersandmorethan25.5millionlikes,anditbecameanotherunifyingandwholesomestoryforfansallaroundtheworldtoshareandenjoy.

Ifcompetitionwasallblood,sweat,andtears,itwouldn’tbeascompelling.Thegrithastobebalancedbyexcitement,humour,andfun.Whilememescancer-tainlydepictthestruggle,themediumisatitsbestasawaytoexpresslaugh-terandjoy.ThatisnetpositivefortheOlympicbrand,andthebrandsdevotingsignificantresourcesintobeingaffiliatedwiththeOlympicgames.

HugoHensley|Introduction

Introduction|HugoHensley

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$11.4bn

ValueoftheOlympicsbrand

37%

OlympicsbrandvalueincreasesinceTokyo2020duetobumperbroadcastingandsponsorshipdeals—(page10)

16

All16TOPpartnersincreased

brandfamiliarityandreputation,

accordingtorespondentsexposed

tothepartnerships–AlibabaandP&Gsawthebiggestgains—(page17)

18%

ofOlympicsfollowerstold

BrandFinancebeforethe2024

GamesthattheyregardtheOlympicsas‘committedtotheenvironmentalaspectsofsustainability'—(page26)

70%

CorrelationratebetweenGlobalSoftPowerIndexresultsandtotalnumberofmedalswoninthe

Tokyo2021SummerOlympics,ParisimpactTBD—(page34)

Introduction

byHugoHensley,HeadofSportServices,BrandFinance

IwasluckyenoughtoattendthefinalweekendoftheParisOlympics2024,andwhatstoodouttomethemostwashowthemagicoftheGamesisverymuchalive.

FromwitnessingtheancienteventsoftheathleticsintheStadedeFranceandthemarathonalongtheSeine,toexpe-riencingthemodernpentathlonatthePalaceofVersaillesandenjoyingtheinnovation,quirkiness,anduniquemi-cro-cultureofbreakdancing,theOlym-picsshowcasesaremarkableblendoftraditionandmodernity.

Assomeonewhospendsalotoftimeevaluatingthestrengthandvalueofbrands,it’sundeniablethatTheOlym-picshasnoequalintheworldofsports.

"When

weconsider

abrandlike

theOlympics,

thescopeof

valueextends

farbeyond

financial

returns."

Unlikefootball,wheretopclubsengagewithfansweekinandweekout,theOlympics’relevancepeakseveryfouryears,withabriefbutintensespotlightduringtheGames.

Thiscyclicalnaturepresentsbothanop-portunityandachallenge.

Howdoyoumaintainastrongbrandwhenthecompetitionwithothersportsandentertainmentpropertiesisfiercerthanever,andwhenaudienceexpecta-tionscontinuetoevolverapidly?

TheOlympicbrandisauniquefusionofnationbranding,globalsports,corpo-ratesponsorship,andtheindividualper-sonalitiesoftheathletes—allconvergingunderonepowerful,positivemessage.Yet,beneaththespectacleisacomplexbusiness,withtheInternationalOlym-picCommittee(IOC),hostcommittees,NationalOlympicCommittees(NOCs),

andcorporatepartnersallplayingrolesinthesuccessoftheGames.

ThegreatestassetoftheOlympicsisitsbrandandthevaluesitrepresents.Buttofullyrealisethepotentialofthisasset,it’sessentialtounderstandhowitdrivesval-uenotjustfortheOlympicMovement,butalsoforitspartners,hostlocations,andthemyriadofstakeholdersinvolved.Thisreportexploresthatdynamicandanalyseshowallpartiescanoptimisetheirinvolvementtoachievetheirgoals.

AtBrandFinance,webelievethatbrandsareconnectedtothebottomline.Wehaveconductedthousandsofbrandandbrandedbusinessvaluationsacrossvarioussectors,includingsports,tohelporganisationsunderstandandleveragetheirbrand’sfinancialimpact.

InthecaseoftheOlympics,thisun-derstandingiscrucialforallstakehold-ers—fromsponsorslookingtojustifytheirinvestments,tohostcitiesaimingtomaximisetheireconomicandreputa-tionalreturns.

Whatisthepurposeofastrongbrand?Forcommercialbrands,theprimarygoalisoftentoattractcustomers,buildloyalty,andultimately,tomakemoney.

However,whenweconsiderabrandliketheOlympics,thescopeofvalueextendsfarbeyondfinancialreturns.

TheOlympicbrandisaboutunitingtheworldunderacommonbanner,cele-bratingexcellence,andpromotingval-uesthatresonateacrossculturesandgenerations.

BrandValueFeature|ValuingtheOlympicsbrandValuingtheOlympicsbrand|BrandValueFeature

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Whattherings

areworth:ValuingtheOlympicsbrand

byHugoHensley,HeadofSportsServices,BrandFinance

andIñakiSanzDeAcedoValls,ConsultingIntern,BrandFinance

F

romanodetothegodstoamulti-billion-dollarbusiness,theOlympicGameshaveevolvedovertheyears,andsohasthebrand.

HOWTHEOLYMPICSSTACKUP

Intermsofbrandvalue,theOlympicsareinthesameleagueasothersportinggiants.TheEnglishPremierLeagueisthemost-watchedsportsleagueintheworld,accordingtotheBritishCouncil,broadcastto188

In2024,BrandFinancedataindicates

countries.BrandFinancevaluestheEnglishPremier

theOlympicsbrandhasavalueofUSD11.4billion.

LeagueatUSD9.9billion(Figure1)basedonthe20

Althoughconsideredaglobalbrand,itoriginatesin

componentclubsin2024,whichisnearlyasvaluableas

Greece,wheretheOlympicsbrandisnearly5.5times

theOlympicbrand.Theonlysportsleaguemorevaluable

morevaluablethanthetop10mostvaluablebrands

istheNFLatUSD24.0billionbasedonthesumofall32

fromGreececombined.

oftheNFLfranchiseteams.

24,043

BrandValueComparison:NFL,Olympics,PremierLeagueandNBA|USDm(Figure1)

TheOlympics’brandvalueisespeciallyimpressiveconsideringthegamesareplayedoutoverjustover2weekseverycoupleofyears,comparedtoleaguesthatplayoverhalftheyear,everyyear.Forinstance,whencomparedtotheNBA,whose30teamsbrandvalueequaltoUSD8.9billion,theOlympicsisstillamorevaluablebrand.

FollowingtheabbreviatedanddelayedTokyoOlympics2020,Paris2024madeagrandentrance,givingabigboosttothebrand–a37%increaseinvaluefrom2021,whenitwasvaluedatUSD8.3billion.Thissurgeinvaluecanbeattributedtogrowingbroadcastingdeals,morestablesponsorshiprevenue,andpost-pandemichopesofnormality(Figure2).

HOWTHEOLYMPICS

BRANDVALUEISDERIVED

Brandshavevaluebecausetheydrivefinancialbenefitstocompaniesbypositivelyinfluencingdifferentstakeholdergroups.TheOlympicsbrandinfluencesthesuccessoftheIOCandNOCsacrosstheirvariousrevenuegeneratingactivities,primarilybroadcasting,sponsorship,andticketing.BrandFinance’svaluationoftheOlympicsusestheroyaltyreliefmethodologyandappliesahypotheticalroyaltyratetothedifferentrevenuegeneratingaspectsoftheOlympics:the

InternationalOlympicCommittee(IOC)andthe206NationalOlympicCommittees(NOCs).Thevaluationiscalculatedasthenetpresentvalueofthisstreamofroyaltiesthatthebrandisexpectedtodeliveracrosseachoftheserevenuestreamsintothefuture.

AlthoughtheIOC’srevenueisconcentratedinOlympicyearsasbroadcastingrightsaresold,broadcastingrightsarethelargestdriverofrevenueandOlympicbrandvalue(Figure3).The2024brandvaluegrowthisbolsteredbytheselucrativeagreements,forinstance,thereportedUSD1.5billiondealtheIOCsecuredwithWarnerBrosDiscoveryforbroadcastingrightstothegamesfrom2018–2024,nowrenewedthrough2032andexpandedtoincludeEBU.TheredistributionofthebroadcastrevenuestoNOCsisanimportantdriverofinvestmentintoinfrastructureandathleteperformancewithinnations.

SponsorshipisthesecondmajorcontributortothevalueoftheOlympicbrand,representingUSD4.9billionofbrandvalue(Figure4).Since2017,therevenuefromsponsorshiphasexpandednotonlyinsizebutalsointermsofpositivelyimpactingfinancialperformanceduringnon-Olympicyears.

12

Olympicsbrandvalueovertime|USDm(Figure2)

25

20

11,407

9,902

24

nancePlc20

©BrandFi

15

10

5

0

10

8

8,924

6

4

2

0

11,407

8,325

8,755

8,309

2024

ndFinancePlc

©Bra

NFLOlympicsPremierLeagueNBA

Paris2024Tokyo2021Rio2016London2012

BrandValueFeature|ValuingtheOlympicsbrandValuingtheOlympicsbrand|BrandValueFeature

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IOCRevenue|USDbn(Figure3)©BrandFinancePlc2024•Televisionbroadcastingrights•TOPprogrammemarketingrights•Otherrights•Others

2003

2004

Athens2004

2005

2006

Turin2006

2007

2008

Beijing2008

2009

2010

Vancouver2010

2011

London2012

2012

2013

2014

Sochi2014

2015

Rio2016

2016

2017

2018

PyeongChang2018

2019

2020

Tokyo2021

2021

2022

Beijing2022

2023

00.51.01.52.02.53.03.54.04.5

Source:DataisfromtheIOCannualreports

2024OlympicBrandValueBreakdown|USDm(Figure4)©BrandFinancePlc2024

BRANDVALUEFROMNATIONALOLYMPICCOMMITTEES

Broadcasting•Sponsorship•Other•

4,263

7,144

$11,407m

BRANDVALUEFROMIOC

•Broadcasting

•TheOlympicProgram(TOP)

•DomesticSponsorship

•Ticketing

ThishasresultedinasignificantboostinoverallIOCincomeandfurthercontributedtothegrowthoftheOlympicsbrandvalue.

Inexchangeforasubstantialfinancialcommitment,sponsorsexpecttoreceiveextensiveglobalbrandawarenessandexposure,aswellastheopportunitytobuilduptheirownbrandsbyleveragingthepositiveperceptionsassociatedwiththeOlympicsbrand.TheOlympicPartner(TOP)programmeisaglobalsponsorshipprogrammemanagedbytheIOCwhichgrantsitsmembersglobalmarketingrightstotheOlympicandParalympicGamesandOlympicteamsaroundtheworld.TOPisthehighestlevelofOlympicSponsorship.Someofthesepartnersalsoprovideessentialservicesandproductstothehostgamessuchastimekeeping(Omega)orCybersecurity(Atos).IOCrevenuefromtheTOPprogrammeintheyearofthe2020TokyogameswasUSD800million.SeeafullanalysisofTOPsponshorshipinvestmentsandreturnsonpage17.

However,NOCsarealsoentitledtonegotiateindividualbranddealswheretheyneednotshareanyoftherelevantsponsorshipincomebroughtin.ThishasbeenthemostlucrativerevenuegeneratingstreamforNOCs.ThishighlightstheimportanceoflocalandnationalsponsorsinsupportingtheOlympicmovementatthecountry

level,wherefundingiscrucialtodevelopingandsupportingathletes.Localsponsorshipisalsoawaytomitigatelargediscrepanciesthatalsoarisefromcountrytocountrywhenitcomestosponsorshiprevenue–forinstance,theUSAwasrewarded11timesmorethantheUKin2024.

TicketingisthesmallestoftherevenuegeneratorsfortheIOC,contributingUSD200millioninbrandvalue.TheOlympicsticketingstrategygenerallyprioritisesaccessibilityoverprofit,aligningwiththeOlympicspiritofunityandglobalparticipation.OntheeveoftheParis2024openingceremony,outof10millionticketsoffered,morethanonemillionremainedunsold.Whilepotentiallylimitingimmediaterevenuegains,thisapproachhaslikelycontributedtothelong-termstrengthofOlympicsbrandthroughgreateropportunityforfanstointeractandfamiliarisethemselveswiththebrand.

BrandFinancedataindicatesacontinuedupwardtrajectoryforthestrengthandvalueoftheOlympicsbrand.Itislikelyadditionalrevenue,sponsorship,andbrandvaluerecordswillbebrokenattheLosAngelesGamesin2028.

Feature|RealisingthebenefitsoftheOlympicGamesRealisingthebenefitsoftheOlympicGames|Feature

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ValueinStories:

RealisingthebenefitsoftheOlympicGames

AstheappealoftheOlympicGamesendures,sodoestheappealofaffiliationwiththeOlympicsbrand,despiteinherentchallengesinmeasuringvalue.

Hereishowbrandscanmaximisethebenefitswhensigningonasasponsor.

byJohnDavis,ChairofBrandNewView

M

iloofKrotonwon6OlympicwrestlingtitlesintheOlympicGamesbetween540and516BC.Hewas

knownforhisenormousstrength,whichlegendsuggestshegainedbyliftingacalfeveryday.

Miloalsohadavoraciousappetite,evidencedbyhisrumoreddevouringofabullafterhecarrieditaroundtheOlympicstadium.Hislifeendedlessglamorouslywhenhechanceduponwedgesinapartiallycuttree.Whileattemptingtoremovethewedges,hishandswerecaughtinthetree,trappingMilo,whowassubsequentlyeatenbywolveslaterthatnight.”

Anexcerptfrommybook,TheOlympicGamesEffect,demonstratesthatatitscore,theOlympicsareeverevolvingstories.oftriumphandtragedy.Althoughpastsuccessesarenoguaranteeofvictorytoday,eachnewdayrepresentsanunwrittenstorytospurathletesforward.Thatunpredictabilityhelpsattractfans.Fansattractmedia.Mediaattractssponsors.And,inthemodernera,bothmediaandsponsorsfundasignificantportionoftheGames.

EachOlympiadproducesstoriesthataddnewchapterstoaremarkable3,000-year-oldhistory,stimulatingcontinuedinterestintheGames.

AsIwritethis,theParisOlympicsareinthesecondweekandterrificstorieshavealreadybeentold.SaintLucia’sJulienAlfredwonthecountry’sfirstmedal,Gold,intheWomen’s100m;BraziliansurferGabrielMedinawasphotographedintheairafteragreatwaveride,pointinghisfingerupwardwithhisboardfloatingbehindhiminaniconicimage;Canada’s17-year-oldswimmingphenom,SummerMcIntosh,earned3GoldsandaSilver,establishingherselfasswimming’sneweststar.UKskateboarderAndyMacDonaldfinished18th,butat51yearsold,themoralofhisstoryisthatageisonlyanumber.

AthleteshaveworkedunfathomablyhardjusttoqualifyfortheOlympics.Whilemostdonotris