Higher Faster Stronger | Dave Landy | Summer 2009
The Olympic Games date back nearly 3000 years to its origins in ancient Greece. They started as a religious festival to honor the Gods that included rituals, sacrifices, processions, arts, athletic contests, and concluded with a large banquet. Originally there was only one athletic event: a 200-yard sprint held at the elaborate Temple of Zeus. One of the Seven Wonders of the Ancient World, it proudly showcased an ornate gold and ivory statue of Zeus seated on his throne that stood forty feet tall. The course was adorned by statues of two other deities: Nike, the Goddess of Victory and Hermes, the God of Athletics.
Athletes participated to honor their Gods and to represent their hometowns. Winners were awarded a wreath made from a sacred olive tree. There was no money or medals, and little personal glory. From these humble beginnings the Modern Olympics were revived in 1896 in Athens. The Olympic motto is "Citius, Altius, Fortius" which translates to "Faster, Higher, Stronger". Ideals are illustrated in the Olympic Creed:
The most important thing in the Olympic Games is not to win but to take part, just as the most important thing in life is not the triumph but the struggle. The essential thing is not to have conquered but to have fought well.
The early years of the Modern Games can also be defined as the pre-television era, which lasted until 1960. During this time, the Games were peaceful and non-controversial. Despite the addition of new sports, they held true to their mission. Televised coverage began at the 1960 Games and the Olympics matured into the global phenomena we now experience. Two billion people watched the Opening Ceremonies in Beijing, the largest global TV audience in history. During this new era, many feel that the Olympics have strayed from the ideals established in the Creed. Rather than the sheer competition itself, the focus has shifted to winning at all costs and appealing to consumers. The Games now reflect many of the worst human characteristics including greed, vanity, prejudice, and deceit.
This month we look at how the Olympics not only impact but reflect our own values. We ponder what the Greek Gods would think if they could see the Games now. The perspective will be from Hermes, overseer of the Ancient Games. For Hermes is a very interesting character. Much more than the God of Athletics, he is also the God of Commerce and is often portrayed carrying a coin purse. Furthermore, due to the legend that he once stole cattle from his brother Apollo, he is known as a patron of thieves, liars, miscreants, and harlots.
Greed
The Olympic Games are a multibillion dollar global enterprise. Every aspect has been optimized to maximize revenues. Prior to 1984, cities would bid to host for the honor itself and to showcase their cultures and venues. However, the Los Angeles games generated a $200 million profit. American capitalism changed the hosting equation forever. Rather than civic pride, hosting is now focused on profit. The entire process has become dirty business with allegations of bribery to International Olympic Committee (IOC) officials in several of the recent winning bids. Television is one of the largest revenue streams. NBC paid a paltry $4 million to broadcast the 1960 games in Rome. The TV rights for the 2012 Games in London were recently sold for over $4 billion. With so much money at stake, the inevitable happened: the US Olympic Committee went to war with the IOC over revenue sharing. The case was recently settled out of court after a very public and acrimonious fight. Significant money also comes from corporate sponsorships in which companies pay tens of millions to the IOC for the right to sport the Olympic rings. Major sponsors include Coca-Cola, General Electric, McDonalds, and Visa. And make no mistake, this is big business - not altruism. Hugh McColl, former chairman of Bank of America, said of their sponsorship of the Atlanta Games: "This isn’t charity. We’ve entered into a business transaction. We will make money. That’s what it’s all about". McColl wasn’t kidding. Sponsoring the Games translates into cold hard cash. During the Beijing Olympiad, corporate sponsors Apple, Visa, Proctor & Gamble, and Speedo all experienced large upticks in their stock price despite a plummeting market. Nike’s Chairman Phil Knight cited the Olympics as the primary reason for the firm’s increased revenues. Their business in China has grown 36% since Beijing.
