2020 Tokyo Olympics: Simone Biles Will Reportedly Not Lose Any Money for Withdrawing from Competition

by Anna Dunn

According to financial Guru Daymond John, Simone Biles might not lose any money after withdrawing from Gymnastics competitions in the 2020 Tokyo Olympics over health concerns. The gymnast withdrew from the team finals, the all-around finals, the vault, the uneven bars, and the floor competition. This leaves her with one event left to compete in.

Some have wondered how these withdrawals will affect her financial well-being, but Shark Tank star Daymond John thinks she’ll be fine.

“I think this is great,” Daymond told TMZ. “Not what she’s going through, but a great example of showing she’s human.”

In fact, it’ll hopefully open up more opportunities for sponsorship deals for Biles.

“I think this makes her extremely relatable, and I think this makes a company look good because they say we don’t only care about people when they’re on top, we care about people when they’re going through struggles, and we’re gonna address this cause we’re all human,” he said.

Biles began to withdraw from the 2020 Tokyo Olympics competitions after a vault performance where she got the “twisties.” The twisties occur when a Gymnast can no longer find themselves in the air. Sometimes caused by extreme stress, the twisties can be absolutely deadly.

“What’s even scarier is since I have no idea where I am in the air. I also have NO idea how I’m going to land, or what I’m going to land on,” she wrote in her Instagram story.

Biles’s Sponsors Have Praised Her For Putting Her Safety First at the 2020 Tokyo Olympics

Contrary to what some harsh critics may have been hoping, Biles is doing just fine with her current sponsors. In fact, they are praising her. One of her sponsors, Athleta, released a statement regarding her withdrawal from competitions.

“We stand by Simone and support her well-being both in and out of competition. Being the best also means knowing how to take care of yourself. We are inspired by her leadership today and are behind her every step of the way,” Athleta Chief Brand Officer Kyle Andrew said in a statement.

Biles cited her mental health as a reason for dropping out, saying that she didn’t trust herself anymore. It started a massive conversation about mental health in sports. It also paved way for two other American Gymnasts to step into the spotlight.

Suni Lee took home gold in the women’s all-around finals, making her the fifth consecutive American woman to win the women’s all-around finals. MyKayla Skinner, who didn’t qualify for any Olympic finals, got a second chance to step into the spotlight. Skinner wound up taking the silver medal.

You can watch the Olympics at almost any time on NBC. You can also go to the NBC Sports app or NBCOlympics.com.