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Michael Phelps’ Tax Bill For Rio Olympic Medals Could Be Around $55000

At the 2008 Beijing Olympic Games, China grabbed nine gold medals.

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After Tuesday’s finals, the United States still tops the medals table on 28 golds, followed by Britain and China with 19 and 17 gold medals respectively.

Boxer Josh Buatsi’s defeat in his light-heavyweight semi-final officially earned him a bronze medal, Britain’s 48th of the Games.

According to a Washington Post report, ‘Phelps’s medals are worth at least $100,000 a pop, maybe more if they’re from an especially noteworthy race. “If I end up with a gold medal standing on the podium, I’m not sure I’ll ever take it off”, Ko said. There have been only team competitions at the past three Olympics, and China’s men and women have won all of those.

He said they have an incredible coaching team and he’s excited how they can work that programme going forward.

Liz Nicholl, chief executive officer of UK Sport, added: “Our high performance system is the envy of the world and continues to go from strength to strength”.

The incidents have stoked concerns about the safety of competitors and visitors to Rio for South America’s first Games, which conclude on August 21.

So now we all know: When Michael Phelps displays his many medals at once, he prefers the method of placing one on at a time, then tucking it behind the others. The thrill of watching our gymnasts perform live in the arena has been truly spectacular if at times nerve-wracking, but this is the beauty of the sport and we want to congratulate the organisers of Rio 2016 on staging a fantastic gymnastics event.

It said a letter from GB officials stopped short of issuing a curfew on athletes, but warned them not to carry any valuables and to inform team management of any plans to stay in Rio overnight. He now has a total of five Olympic medals (two in London and three in Rio), making him the most decorated Olympic gymnast in British history.

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China only conceded one set in the third and doubles game, as the pair of Liu and Ding surrendered the third set 11-9 to Solja and another German Chinese Shan Xiaona but came back on court with even firmer hands, wrapping it up 11-6, 11-5, 9-11, 11-7.

Li Du of China with silver,Virginia Thrasher of the US with gold and Yi Siling of China with bronze