Athletics

London drops taxes to lure Bolt

2013-02-07 12:08
Usain Bolt (File)

London - Olympic sprint champion Usain Bolt and other overseas athletes will be able to compete tax-free in this year's London Diamond League event at the Olympic Stadium after the British finance minister agreed to a "one-off" exemption.

Jamaican Bolt, who won three golds at last year's London Games, had not previously raced in the United Kingdom since 2009 because of tax rules which would have left him out of pocket.

"The Government is determined to do everything possible to secure the Olympic legacy and I am delighted to grant this exemption," Finance Minister George Osborne was quoted as saying in Thursday's Daily Telegraph newspaper.

The London meeting, switched from its traditional Crystal Palace home to the Olympic Stadium to mark the first anniversary of the Games on July 27, is expected to be a 80 000 sellout and would have been damaged by the absence of athletes such as Bolt.

British tax rules mean that visiting overseas athletes would have paid tax on their earnings from the meeting but also on part of their global income including sponsorship deals.

Despite Osborne's intervention, Bolt has yet to confirm his attendance.

"I think it's about two weeks before the World Championships (in Moscow), which is quite late, but it's London and it's the Olympic Stadium again so it obviously has an attraction," his agent Ricky Simms said.

Read more on:    usain bolt  |  athletics
NEXT ON SPORT24X

 

Read News24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
2 comments
Add your comment
Comment 0 characters remaining
Live Video Streaming
  • Blitz
    Mon, 24 Nov 2014 @00:00
  • SS1
    Mon, 24 Nov 2014 @01:00
  • SS2
    Mon, 24 Nov 2014 @02:00
  • SS3
    Mon, 24 Nov 2014 @03:00
Video Highlights
Sport Talk

 

Goalkeeper saves five penalties with his FACE!

Nothing, and we mean nothing, will keep goalkeeper Scott Stirling from stopping the ball!

 
 

Men24.com

Hottie of the day: Jesselyn
This invention makes farts smell like chocolate!
11 things men don’t know about their clothes
Hilarious mortal kombat elevator prank!
 
 
/Sport
Men
Women
Love 2 Meet
Featured

Got something you'd like to get off your chest? Got a burning desire to air an opinion? If so, be sure to sign-up on Sport24's FORUM!

Latest blogs
Vote

How much of a runner are you?

Twitter Follow Sport24 on Twitter

Facebook "Like" Sport24's Facebook page

Newsletters Sign up for the Morning Glory, Super 15 and Soccer newsletters

WIN Enter and win with Sport24!

Mobile Sport24 on your mobile phone - WAP, alerts, downloads, services

Forum Have your Say on Sport24's brand new Forum!

BlackBerry Stay in the loop on your BlackBerry

iPhone Latest Sport24 news on your iPhone

RSS Feeds Sport news delivered really simply.

Blogs Yes your opinion counts. Get it out there

 
There are new stories on the homepage. Click here to see them.