The ongoing Corona Virus pandemic is not just ravaging human health but also the finances of many people. Many sportspersons have been at the receiving end of event cancellations, lost sponsorship deals due to the pandemic, and are finding it hard to meet ends meet. One such sportsperson is from India – Dutee Chand. A sprinter who won a silver medal at the 2018 Asian Games, Dutee Chand now finds her Tokyo Olympics dream in jeopardy as earnings from sprinting competitions and sponsorship money have dried up.
To train adequately for this big ticket global sports event, Dutee Chand plans to put her BMW 3-Series sedan for sale in order to raise enough money. She plans to use this money to train for the Tokyo Olympics, which is slated for 2021. She bought the BMW 3-Series luxury sedan in 2018, which makes it a fairly new car. The Tokyo Olympics, scheduled for July 2020, has been postponed to next year thanks to the Covid-19 pandemic.
Meanwhile, here’s what the sprinter had to say about her plans to sell her car and finance her Olympics dream,
Due to the ongoing pandemic all completions have been cancelled. Sponsorships for Olympics are also no longer there. I have spent all my money and haven’t earned anything in the last few months. There will be no new sponsors either during this time so selling my car is the only option left. I’m not upset. I was able to buy the car because of my competitions. I will again compete, earn money and buy myself a luxury car. The important thing right now is to focus and train for Olympics in 2021. It is a very costly car which I bought at ₹30 lakhs and its maintenance has become an issue for me. Moreover, I don’t have the parking slot too to keep it as I have two more cars. I have to spend about ₹1 lakh alone on diet and then have to pay salaries to my support staff including trainer and physio. It has become very difficult for me to sustain the training. I spent most of the cash incentives which the Odisha Government have given to me and with the postponement of the Olympics, it has become even more difficult for me to fund my training. I get only ₹60,000 per month being on the rolls of Odisha Mining Corporation which is obviously not sufficient in these times. Definitely, I can understand these are challenging times for anyone to extend financial assistance. But being an athlete aiming to win an Olympic medal, I just cannot afford to sit back and watch in disappointment with the way things are unfolding around me.
Luxury cars typically have low resale value, and depreciation kicks in quickly right from purchase. Dutee Chand is likely to get about a price that is 30-40 % lower than what she purchased the BMW 3-Series sedan for. The person buying Ms. Chand’s BMW will be happy to know that the car is still under warranty, and is covered We hope that the Government of India and sponsors take note of the sprinter’s situation and chip in to help her tide over this financial crisis and bring home an Olympic medal for India.