The Indicator from Planet Money

What it costs to be an elite figure skater like the 'Quad God'

February 12, 2026

Key Takeaways Copied to clipboard!

  • The estimated cost for an elite figure skater to reach the Olympics is approximately $1 million, primarily driven by the high expenses of ice time and coaching, as the U.S. does not provide federal funding for youth athletic development. 
  • Figure skating costs explode when skaters move beyond basic group lessons to require private coaching and specialized equipment, such as high-end skates costing around \$2,000, which are necessary for landing double jumps and higher. 
  • Financial barriers create a hereditary effect in elite U.S. figure skating, where skaters with Olympian parents often receive free, top-tier training, while others must rely entirely on family funds until they reach international competition levels, where national governing body funding is minimal and quickly consumed by choreography and costume costs. 

Segments

Introduction to Skating Costs
Copied to clipboard!
(00:00:11)
  • Key Takeaway: The cost to reach the Olympics as a figure skater is estimated by a bronze medalist to be around $1 million.
  • Summary: The Indicator from Planet Money episode focuses on the financial burden of elite figure skating. An estimate from 2002 Olympic bronze medalist Timothy Gable suggests the total cost to reach the Olympics averages $1 million. The initial expenses begin to explode when skaters transition from group lessons to needing private coaching for double jumps and local competitions.
Equipment and Coaching Expenses
Copied to clipboard!
(00:03:51)
  • Key Takeaway: Skate equipment costs around $2,000, but ice time and coaching represent the primary financial sink for competitive skaters.
  • Summary: Figure skating equipment, including blades and boots capable of withstanding double jumps, can cost about $2,000. The major ongoing expenses are ice time, which can cost $90 per day for a minimum of five days a week, and private coaching lessons, which can be around $120 per session for multiple hours daily.
Financial Advantage of Heredity
Copied to clipboard!
(00:04:24)
  • Key Takeaway: Elite U.S. skaters often come from families where parents were Olympians, providing them with free, top-tier training access.
  • Summary: The U.S. men’s Olympic team shows a trend where several skaters have parents who were also Olympians, suggesting a financial advantage rather than a genetic one. Skaters like Ilia Malinin benefited from growing up in the rink while his parents coached, securing vast amounts of free ice time necessary for landing quadruple jumps early.
Governing Body Funding Limitations
Copied to clipboard!
(00:06:06)
  • Key Takeaway: U.S. Figure Skating funding does not typically begin until skaters compete internationally at the junior level, leaving early costs entirely to families.
  • Summary: Families must cover all expenses, including travel to competitions, which can total $10,000 or more per season for qualifying events, including coaches’ travel. Once skaters reach the international junior level, U.S. Figure Skating provides funding, with top-ranked seniors receiving about $20,000 per season.
Cost of Presentation and Artistry
Copied to clipboard!
(00:07:16)
  • Key Takeaway: Choreography and costumes are essential competitive tools in this judged sport, with a single high-level dress costing up to $5,000.
  • Summary: Choreography is crucial as judges evaluate musicality and interpretation, not just jumps; a single choreographed program can cost between $10,000 and $15,000, potentially consuming an entire season’s funding. High-level competition dresses cost between $2,000 and $5,000 each, and skaters require at least two per season.
Gender Imbalance Economics
Copied to clipboard!
(00:08:07)
  • Key Takeaway: The severe gender imbalance in pairs and ice dance forces female skaters’ families to often subsidize their male partners’ expenses.
  • Summary: In pairs and ice dance, the supply of male skaters is extremely low relative to female skaters, leading to a supply-side economic problem. It is common for female skaters’ families to pay for their male partners’ housing, coaching, ice time, and sometimes even citizenship costs.
Prize Money and Sponsorship Reliance
Copied to clipboard!
(00:08:41)
  • Key Takeaway: Top prize money is insufficient to cover costs, making Olympic exposure vital for securing large, albeit ethically questionable, sponsorships.
  • Summary: The top prize money, such as $25,000 for a Grand Prix Final champion, is quickly depleted, especially since coaches often take a 15% cut. The Olympics provide a global audience, leading to lucrative sponsorship offers, which athletes often accept because the sport is so obscenely expensive.