Joseph Schooling, a junior on the Texas swim team, pulled off one of the biggest upsets of the Olympics when he beat Michael Phelps to win the gold medal in the 100-meter butterfly.
Schooling is from Singapore and he was greeted as a huge hero back home. He also was awarded a bonus of $740,000 from the Singapore government.
The NCAA allows athletes to keep these Olympic bonuses without them losing eligibility. Athletes also can receive training stipends from their country’s governing body.
But NCAA president Mark Emmert said Thursday that the NCAA may change its rules because of Schooling’s huge bonus. He was speaking as part of the Aspen Institute.
Emmert: Texas swimmer who got paid $740K for winning gold at Olympics has caused concern by NCAA members. More comfortable w/ lower figures.
— Jon Solomon (@JonSolomonAspen) September 8, 2016
Here’s why the NCAA is concerned. The organization assumed the bonuses were more in line with what the U.S.O.C. pays. A gold medalist in Rio received $25,000, a silver was worth $15,000 and a bronze $10,000.
Schooling has won four individual NCAA titles for the two-time defending national champion Longhorns.
If you’d like to relive Schooling’s win, here’s the video. Phelps was swimming his final Olympic individual race and had to settle for silver.
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