Almost half of Australia’s elite athletes live below the poverty line as their shocking annual income is exposed – and Olympics legend reveals she left sport $300,000 in debt

Nearly half of Australia’s top athletes live below the poverty line — with a shocking annual income of less than $23,000, a damning report finds.

The Australian Sports Foundation’s surprising findings also warned that without bolstered financial support, the country risks an exodus of top talent ahead of major international events.

Two in three Australian top athletes between the ages of 18 and 34 have considered quitting their sport, according to a survey by the foundation.

One in two athletes aiming to compete in the 2026 Commonwealth Games have considered leaving their sport, as have 43 per cent of those committed to the 2032 Brisbane Olympics.

More than 40 percent are said to be worse off financially than a year ago, and more than one in four have experienced a decline in their mental health in the past 12 months, the foundation finds.

Cook told the ABC that due to a lack of funding in her professional career during five Olympics, she approached local butchers, bakeries and fruit stores most weeks to “fuel her body.”

“This is the green and golden decade with so many events like this to look forward to, but they are nothing without the athletes,” said Patrick Walker, CEO of the foundation.

The top adult athletes surveyed earned an average annual income of between $23,000 and $49,000.

However, 46 percent of them earned less than $23,000 a year from all their income streams combined, the foundation’s report said.

The biggest challenges have been cost and financial uncertainty, with elite athletes spending more each year on travel and accommodation for competitions than on food.

Very few received financial support through fundraising or a sports organization, Walker said.

Beach volleyball Olympic gold medalist Nat Cook told ABC News Breakfast on Wednesday that the stark earnings some Australian athletes receive are “mind-boggling, but unfortunately not surprising.”

When Cook retired in 2012, she was $300,000 in debt with a mortgage on her father’s house.

“Five Olympic campaigns me and I have been through the same thing. It was about raising enough money to put gas in the car and food on the table for our next trip,” she said.

Decorated swimmer Bronte Campbell said that while injury support was always appreciated, the costs soon began to exceed the support she received throughout her swimming career.

Bronte (pictured left, with her sister Cate Campbell) won gold medals in two Olympics

‘Enough is enough. It’s time for Australian business to adopt our athletes.

“They run on empty, empty bank accounts, empty gas tanks and empty refrigerators. It’s not good enough.

“We need to find direct funding sources for our athletes. $23,000 a year is not good for your financial well-being it certainly does not help your mental well-being.

‘Every week in my career I asked for a box of fruit at the local fruit shop, at the butcher for some meat and went to the bakery to get bread. I had to ask so I could keep fueling my body to make sure I was my best self.

“Nothing seems to have changed since I left in 2012.”

Champion swimmer Bronte Campbell said the biggest cost she incurred during her career was related to injuries, and while injury support was much appreciated, the cost soon began to outweigh the support received.

Athletes faced financial pressures specific to them, as well as pressures that impacted the wider community, including rent and mortgage prices, she added.

“If you win an Olympic gold medal, you get a medal bonus — which isn’t, as someone once asked me, a million dollars,” Campbell said.

‘It’s much less than that. But try to support yourself between the Olympics and in-between when you put in those high feats.

“There have certainly been years where, if I hadn’t had success the previous year, I don’t know how I would have made it work.”

Mr Walker urged Australians to consider donating to their local athletes and sports clubs as government funding alone was not enough.

He also encouraged athletes to look for other sources of income.

The Australian Olympic Committee also worked with the federal government and the Australian Sports Commission to develop a sports investment model, chief executive Matt Carroll said.

There is currently a $2 billion shortfall in federal funding, he confirmed.

“As we look to the future, particularly Brisbane 2032, we cannot afford to see these inspiring young athletes fleeing their dreams,” said Mr Carroll.

The Australian Sports Foundation’s findings were based on a survey of more than 2,300 Australian athletes, including more than 600 athletes at the top national or international level.