• Athletics

Taxing time rules Bolt out of London run

ESPN staff
July 12, 2010
London fans will not get the chance see Usain Bolt in action © Getty Images
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Sprint star Usain Bolt has declared that he will not be featuring at the Diamond League meeting in London in August due to Britain's tax laws.

Bolt, a triple Olympic champion and current world record holder over 100m and 200m, will not be competing at the Aviva Grand Prix because tax laws could see him stand to lose more money than he would earn - if he were to race at Crystal Palace.

"I am definitely not going to run [in London]," Bolt told a news conference.

Asked if the reason for not competing was because he would lose more money than he would earn from running, Bolt said: "That's what my agent told me."

Bolt's announcement is a serious blow to organisers who had hoped to stage a three-way showdown between Bolt and fellow sprint sensations Asafa Powell and America's Tyson Gay.

British tax law means foreign sports stars pay taxes on their worldwide endorsements and for Bolt, who earns the bulk of his money through sponsorship deals, the regulations in place mean he will always lose out.

© ESPN Sports Media Ltd.
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