Sprint Megastar Bolt accepts £500,000 to run in London

Global sprint mega-star Usain Bolt has reportedly agreed a £500,000 tax-free deal to return to the scene of his Olympic triple gold medal glory and compete in two events at the London Anniversary Games at the Olympic Stadium in July.

Usain Bolt 150m

According to British paper, The Daily Mail, the double sprint world record holder has signed a contract to compete on both days of the Diamond League grand prix meeting on July 26 and 27.

The paper published a brief statement by Bolt’s agent Ricky Simms saying they were having positive negotiations, but still have some things to finalise.

Bolt will be one of a host of Olympic champions including Mo Farah, and Jessica Ennis as well as Jamaican compatriot Yohan Blake who will be in action at the Stratford Stadium before many of the stars of the London 2012 Paralympics take the stage on July 28 for a day of disability events.

  

Details of the two events he will be contesting are being kept secret until a formal announcement is made, though it is probable he will compete in one individual sprint race plus the 4×100 meter relay as he is unlikely to take part in both the 100m and 200m on consecutive days just a fortnight before the start of the World Championships in Moscow.

The meeting, which was moved from Crystal Palace to the Olympic Stadium to mark the first anniversary of the London 2012 opening ceremony, will be the first time Bolt has raced on British soil since 2009 other than at the Olympics.

Bolt had previously avoided competing in Britain because UK regulations meant he would be liable to pay tax on his multi-million-pound endorsement earnings, meaning that it would have cost him money to race there.

His change of heart follows the decision of the Chancellor George Osborne, revealed in February, to grant a ‘one-off’ tax exemption for overseas athletes taking part in the London meeting to make sure an all-star cast could be assembled for the anniversary celebrations.

Athletes will also pick up any prize money tax free on top of their appearance fees.

The tax exemption is expected to lure not just Bolt but other foreign stars such as Kenya 800m Olympic champion David Rudisha – who set a world record on the London track – and Jamaican sprinter Yohan Blake.


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