Sunday, 05 August, 2012 08:23
Last Updated on Sunday, 05 August, 2012 08:30
Written by admin
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Gabby Douglas made it look like winning a gold medal in the Olympics was easy, but appar-
ently, it was a miracle for her and her family.
The 2012 Olympian had some serious financial woes, that caused her mother to file for bank-
ruptcy right before the games began. According to documents filed earlier this year in Vir-
ginia, Natalie Hawkins filed for Chapter 13 … which is far less severe than Chapter 7. The docs
state Hawkins has assets totalling $163,706.10 and debt totaling $79,754.14.
Her creditors include:
Capital One — $1,534
Student loan — $4,350.23
Sprint — $158.78
T-Mobile — $413
Orthodontist in Iowa (where Gabby trained when she was 14) — $408
With the Chapter 13 filing, Hawkins has agreed to a monthly payment plan. She began mak-
ing payments of $408/month back in February … to a trustee who will divy it up among her
creditors.
Fortunately, Gabby and her family may not have to worry about money for the rest of their
lives, since she is set to make a fortune off of endorsement deals.
We’re so proud of Gabby and we wish the best for her and her family in the future. She has
certainly earned it!
All of her hard work has earned her the medal, and could possibly earn her up to $90 million
in deals.
According to the New York Post, industry experts are saying she could have over 30 additional
contracts over the next decade at more than $2.4 million each. Gabby recently went on the
TODAY Show, where news broke of the incredible deal, and spoke on her journey to the top:
“I just want people to know it took a lot. It took a lot of hard days in the gym and determination,
passion and drive. Gold medals are made out of your sweat, blood and tears, and effort in the
gym every day, and sacrificing a lot that you have to do.”
She added:
“It’s so meaningful to be the first African-American to win the all-around gold medal in the
individual and making the history books is definitely one of the perks. It just feels amazing.”
Gabby also hasn’t had the easiest family life. Her parents are currently in the midst of divorce
but they still support Gabby 100%!
He said at the Olympic trials:
“We knew (gymnastics) was in her heart because one day she came home from the gym and
she had a 102-degree temperature. She went to bed, slept it off and woke up and got back in
the gym the next day. That’s when we knew she had a winner’s attitude, a winner’s spirit.”
Even her mom told Us Magazine how proud she was of her, telling the mag:
“Have fun — that’s a really big thing that I always tell her. This is your sport, and you love to
do it, so just go out there and enjoy it. How many other times are you going to get to compete
at the Olympics? Soak up every minute of it. Push out all distractions. Fear is crippling;
there’s nothing to be afraid of. You’ve trained for this moment . . . you’re going to be nervous,
but let it fuel and feed your desire to go out there and get what you want.”
“I absolutely have no regrets,” Hawkins told Us. “I wish there was a gym closer . . . but the
fact that she’s joined with a coach who believes in her 100% and she believes in them 100% .
that all means the world to me because she’s happy.”
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