Peeking at Arik Zeevi's Account Page
So far, Migdal Insurance has invested NIS 1.4 million in him
Published in Globes, G Magazine, on August 21, 2008
By: Esther Nayer (Ari Manor, CEO of ZOOZ, is quoted in the article)
Zeevi belongs to the Olympic Committee's Diamond Squad - a select group of individual and promising athletes who receive a permanent scholarship to support their living.
There were many expectations for judoka Arik Zeevi before the Beijing Olympics, and many are now eulogizing the career of the Israeli medalist after he was eliminated from the competition. It hurts, but is it really the end of the road?
Support for athletes: Zeevi is part of the Olympic Committee's Diamond Squad - a select group of individual and promising athletes who receive a permanent scholarship they can live on. These are monthly stipends of 12 to 15 thousand shekels, with Zeevi, according to estimates, receiving a stipend of 15 thousand shekels in recent years. Membership in the Diamond Squad does not preclude his active and fruitful years also in the Gold Squad - whose composition is determined according to current achievements (that is, it's not possible in years when the athlete is injured, inactive, or not achieving). Being part of the Gold Squad means an additional income of about NIS 5,000 per month.
Adoption contract: In 2003, the Migdal Insurance Company signed an adoption contract with Zeevi, granting him a handsome and regular monthly income, plus bonuses for winnings and/or services for the company's advertising campaigns. This is a scholarship of about 3,000 dollars a month - an amount almost equal to the Olympic Committee's investment in the members of the Diamond Squad and Zeevi himself. According to estimates, Migdal has invested close to NIS 1.4 million in Zeevi to date.
The Olympic medal: In 2004, Zeevi won a bronze medal at the Athens Olympics. For this achievement, he received a grant of NIS 80,000 from the Olympic Committee, an additional grant of NIS 80,000 from the Ministry of Education, Culture, and Sports, and a scholarship of NIS 40,000 from the Olympic Committee. All of these were dwarfed by the bonus he received from Migdal - NIS 300,000. Migdal even added $50,000 for Zeevi's participation in an advertising campaign. Altogether, these add up to about half a million shekels, not including grants and benefits that Zeevi received from various commercial companies. For other wins - in European championships, world championships, and other competitions - Zeevi received much more modest sums, in the tens of thousands of shekels.
Business: Zeevi took advantage of the study scholarship he was given, earned a degree in law and business administration, and was even accepted for an internship at Yigal Arnon's office. In between, he became a partner in a network of judo clubs. He began giving paid lectures on success, motivation, and overcoming obstacles, with rates among the highest in the field - 10,000 shekels per lecture. "This," says a senior figure in the field, "is the rate for celebrities and top-tier media personalities."
Lifestyle: By virtue of his status, Zeevi enjoys VIP conditions for training. He is supported by a permanent team that includes a trainer, doctor, psychologist, and more, and enjoys full funding for all training expenses. He went to the Beijing Olympics with a ten-person entourage. In the past, Zeevi was known as a partygoer, often going out with his friend, swimmer Eitan Orbach, but these reports have slowly given way to stories about his lectures to business companies and volunteering. Acquaintances, colleagues, and friends attest that he is a particularly pleasant man.
Options: Zeevi, it seems, will soon need to adapt to a different reality. The significant support he received from the Olympic Committee, and likely also from Migdal, will cease if he retires. "He is ready for the next step," say acquaintances. "He has a degree, knowledge, and experience in various fields." Some worry that the losses in Beijing will damage his image and rates, but others think the opposite.
"Zeevi's conduct over the years has conveyed a lot of honesty, reliability, perseverance, and a good spirit," says Ari Manor, CEO of ZOOZ consulting, which provides marketing and business development services as well as executive consulting and training. "Even without a medal, the associations Arik Zeevi evokes are not of failure but of excellence. Therefore, he will be able to succeed in business and sports business management, and also star in advertising campaigns, provided they are suitably tailored to him."
In any case, Zeevi's last word has not yet been spoken: "I can't believe that Zeevi would want to leave the arena in this way, with such a taste in his mouth," says the Chairman of the Judo Association, Eddie Coase. "I expect he will take a vacation, think, get married, relax. And I believe we will see him compete in the World Championship in 2009." He will have the funding for this, Coase is convinced, and adds: "The main thing for mothers to know is: you don't have to steer your child to law. There's good money in Judo too."
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