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Dave Palumbo and John Romano just dropped a massive episode of the Palumbo Podcast discussing the harsh financial realities of running the Olympia—and where it might go next. Here's the no-BS recap for those who care about the sport actually surviving.
Dave Palumbo and John Romano are back for an all-new episode of the Dave Palumbo Podcast, where they discuss the Olympia and solutions to help bodybuilding's biggest show become a self-sustaining financial powerhouse - capable of upping cash prizes to never before seen levels.
Key Takeaways:
$25 Million Olympia Prize Idea They floated a wild—but not impossible—concept: what if the Olympia offered $1 million first-place prizes across all 11 divisions? Total prize pool? ~$25 million. The catch? It’s only realistic if a Middle Eastern country with deep pockets steps up and foots the bill. And guess what—they might.
Current Business Model = Bleeding Cash Jake Wood is dumping millions into the Olympia each year. Between airfare, hotel rooms, meals, staff, and a bloated number of divisions, there's no way he’s making money. They estimate just flights and lodging alone could top $1 million, and that's before the prize money even gets mentioned.
Backdrops & Stage Debates Dan Solomon might finally cave on bringing back the black backdrop for prejudging. Why? Because it actually helps judges see the athletes better. About time. Production glitz is cool, but this is a contest—not a concert.
Move the Olympia to Dubai or Qatar? Romano says it straight: Vegas is too expensive. Why not move the Olympia to somewhere like Dubai, Qatar, or Mexico City—places where bodybuilding is worshipped and deep-pocketed governments want to sponsor world-class events? He even joked about athletes prepping on-site with chefs, gear, and 5-star handlers for 6 months in a “bodybuilding village.”
Jake Shouldn't Pay Jake Wood and Dan Solomon saved the Olympia during COVID, but even Palumbo says they shouldn’t lose money to keep it alive. Either cut expenses, find new sponsors, or lease the rights to overseas promoters who can afford it.
Sponsorship Problem Mainstream brands avoid bodybuilding like the plague—even Harley-Davidson once turned down a free back cover ad. Romano and Palumbo agree: the steroid stigma and lack of "action" are killing its commercial appeal.
Fixes They Suggest:
Only pay top 3 athletes per division.
Only reimburse top 10’s travel expenses.
Consider rotating international hosts like with the World Cup.
Let foreign investors or tourism boards bankroll the event—stop trying to fund it like it’s 1995.
This episode is a must-watch if you care about the future of the sport. Palumbo and Romano didn’t sugarcoat anything, and they laid out the blueprint for what needs to happen—fast.
Dave Palumbo and John Romano are back for an all-new episode of the Dave Palumbo Podcast, where they discuss the Olympia and solutions to help bodybuilding's biggest show become a self-sustaining financial powerhouse - capable of upping cash prizes to never before seen levels.
Key Takeaways:
$25 Million Olympia Prize Idea They floated a wild—but not impossible—concept: what if the Olympia offered $1 million first-place prizes across all 11 divisions? Total prize pool? ~$25 million. The catch? It’s only realistic if a Middle Eastern country with deep pockets steps up and foots the bill. And guess what—they might. Current Business Model = Bleeding Cash Jake Wood is dumping millions into the Olympia each year. Between airfare, hotel rooms, meals, staff, and a bloated number of divisions, there's no way he’s making money. They estimate just flights and lodging alone could top $1 million, and that's before the prize money even gets mentioned. Backdrops & Stage Debates Dan Solomon might finally cave on bringing back the black backdrop for prejudging. Why? Because it actually helps judges see the athletes better. About time. Production glitz is cool, but this is a contest—not a concert. Move the Olympia to Dubai or Qatar? Romano says it straight: Vegas is too expensive. Why not move the Olympia to somewhere like Dubai, Qatar, or Mexico City—places where bodybuilding is worshipped and deep-pocketed governments want to sponsor world-class events? He even joked about athletes prepping on-site with chefs, gear, and 5-star handlers for 6 months in a “bodybuilding village.” Jake Shouldn't Pay Jake Wood and Dan Solomon saved the Olympia during COVID, but even Palumbo says they shouldn’t lose money to keep it alive. Either cut expenses, find new sponsors, or lease the rights to overseas promoters who can afford it. Sponsorship Problem Mainstream brands avoid bodybuilding like the plague—even Harley-Davidson once turned down a free back cover ad. Romano and Palumbo agree: the steroid stigma and lack of "action" are killing its commercial appeal. Fixes They Suggest:Only pay top 3 athletes per division.
Only reimburse top 10’s travel expenses.
Consider rotating international hosts like with the World Cup.
Let foreign investors or tourism boards bankroll the event—stop trying to fund it like it’s 1995.
This episode is a must-watch if you care about the future of the sport. Palumbo and Romano didn’t sugarcoat anything, and they laid out the blueprint for what needs to happen—fast.
