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TSN Senior Correspondent

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Damian Warner is ranked second in the world in the decathlon and thanks to sponsorship deals with the likes of Nike, Sport Chek and Powerade he will be a central figure in marketing campaigns throughout the Rio Olympics.

Yet the 26-year-old Warner is hardly living the high life. He rents a modest apartment in London, Ont., with his girlfriend and drives a Mazda CX-5 lent to him by a local dealer.

“We’re not scraping by,” Warner said in an interview with TSN. “We’re living alright but we’re not living luxuriously. The general public thinks that if you have endorsements you’re making millions of dollars, but for most people it’s not that way.”

Warner, who won gold during last summer’s Pan Am Games and silver at the 2015 world championships in Beijing, said corporate endorsements for most Canadian Olympic athletes are worth about $25,000 to $75,000 per year, although he said “some get a little more… A lot of times people are like ‘gold or nothing.’ If you get on the podium, it can help you out quite a bit.”

Almost immediately after the opening ceremony at Rio’s Maracanã Stadium on Friday night, attention will shift to competitions at the Rio Games, renewing a debate that’s discussed during every Olympics: How much money might an Olympic medal mean for top Canadian athletes?

Sports marketing experts say even gold-medal performances don’t typically lead to a financial windfall for Olympic athletes, partly because of the crowded sports landscape (immediately after these Games attention will shift to the NHL, CFL playoffs, and a Blue Jays’ run at the playoffs), and partly because some companies have become skittish about investing thousands of dollars in one particular athlete.

The 1990s were the heyday of Olympic sports endorsements in Canada, when sprinter Donovan Bailey, rower Marnie McBean and cyclist Curt Harnett were among the country’s most recognized athletes, said Bob Stellick, a Toronto sports marketer.

“With all the issues now with drugs, companies have to be so careful with their reputations,” Stellick said. “It’s great to say we put in clauses that void contracts if athletes do A, B, or C, but I’m sure companies are still trying to get back millions of dollars from Lance Armstrong.”

Moreover, companies establish their upcoming advertising budgets many months ahead of the Olympics. It can be hard to predict which athletes might become marketable during the Games.

Consider the case of Priscilla Lopes-Schliep.

After winning a bronze medal in the 110-metre hurdles during the 2008 Summer Games in Beijing – she was the first female Canadian to win a track and field Olympic medal since 1992 – Lopes-Schliep became coveted by corporate Canada in the months leading up to the 2012 London Games.

“Everyone invested in Priscilla,” said Kris Mychasiw, an agent for Lopes-Schliep and other Olympic athletes. “Coca-Cola, General Mills and Procter & Gamble all filmed spots. There were huge expectations for her, a massive media rollout planned.”

But during qualifications, Lopes-Schliep tripped over a hurdle and didn’t make the 2012 team. Ad campaigns, ready for prime time, were scrapped.

“We were crushed, and the companies were beside themselves,” Mychasiw said.

To be sure, some agents and Olympic officials say changes in the way sponsorship rules work are making it easier for companies that aren’t official Olympic partners to trumpet their ties to athletes.

Under Rule 40 of the Olympic charter, companies that are not official sponsors can’t typically market any ties to Olympic athletes during the period around the Games. But beginning this year, athletes could apply for a waiver exemption to that rule, allowing their sponsors to air promotions without fear of legal action from the Canadian Olympic Committee (COC).

Russell Reimer, a Calgary-based agent who works with Olympic athletes including 800-metre runner Melissa Bishop, said recent changes by the COC are making it easier for athletes to coax potential sponsors to finance their training.

“The story is that Canada has had the most progressive and liberal interpretation of that rule,” Reimer said. “Damian Warner has his deal with [London Life Insurance Co.] thanks to receiving a waiver to that rule. Andre De Grasse has a deal with Puma thanks to a waiver. We went from protect, protect, protect a sponsor’s rights to ‘What can we do to create the best possible environment for athletes in this country?’”

According to a COC spokesman, dozens of Canadian athletes applied for the waivers.

Warner said he considers himself fortunate.

“I get money from [Sport Canada] carding that’s $1,500 a month for training and that helps, along with the high-performance money we get from Athletics Canada,” he said.

He’s also eligible for funding from the COC’s Athlete Excellence Fund, which will pay medal winners in Rio $20,000, $15,000 or $10,000 for gold, silver and bronze medals, respectively.

There’s also money to be made from public speaking. Most Olympic athletes with a compelling story can garner $5,000 to $15,000 per appearance, Mychasiw said.

Warner is an athlete with a good story to tell. He said he has delivered about eight speeches so far this year.

“Growing up, my mom Brenda worked two jobs to support three kids,” he said. “We struggled. In high school I was a pretty shy kid. I didn’t want to speak in public. I’d know the answers but I wouldn’t put up my hand to speak. Now I’m confident in myself and I want to do deals with companies that help me give back and share my story.”

So what might Warner be worth to Canadian companies if he emerges from Rio with a first-place finish?

“If I win a gold medal, I’ll let you know,” he said. “I’m not sure if you win a gold medal in track and field if a lot of money comes with it. Hopefully on Aug. 18 I’ll be able to tell you a lot more.”