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Bolt refuses to race in UK until tax laws are changed
2012-08-14 18:29:01 | (0 Comments)
The world’s fastest man, Jamaica’s Usain Bolt is insisting that he will not race in London until the tax laws are changed.
Usain Bolt - Ricardo Makyn/Staff Photographer
The law in England demands that taxes be applied to competitors’ global sponsorship and endorsement earnings as well as any appearance fee.
Bolt, at the London 2012 Olympics became the first man to successfully defend both 100 and 200 sprint titles in an Olympics.
The 25-year-old earns an estimated £12.7 million a year.
Bolt had not raced in the UK for three years prior to the Olympics.
He only agreed to run in London after England announced a tax amnesty for competitors.
In 2010 Bolt pulled out of the Aviva London Grand Prix because of his stance on the UK tax, instead deciding to compete in Paris - for which he was paid US$250,000.
At the time, his agent, Ricky Simms, said the British tax law has kept a lot of the big stars in other sports away from Britain.
Tennis star Rafa Nadal also pulled out of this year's Aegon Championship at Queen's Club because of the UK's tax demands.
He opted to compete in the Gerry Weber Open at Halle in Germany, where he received a reported £750,000.
Source: The Gleaner/Power 106 News
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