Olympic diving legend Greg Louganis admits to selling gold medals because he ‘needed the money’ to move

Four-time Olympic gold medalist Greg Louganis, widely regarded as one of the greatest American divers, recently revealed that he sold some of his hardware to help facilitate his move to Panama. 

Louganis, 65, shared the news in a Facebook post over the weekend, admitting that he decided to sell his home and auction three of his medals because he “needed the money.” 

“I told the truth; I needed the money. While many people may have built businesses and sold them for a profit, I had my medals, which I am grateful for,” his post read. 

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“If I had proper management, I might not have been in that position, but what is done is done; live and learn.” 

Louganis sold three medals – two gold medals from the 1984 and 1988 Games and a silver from the 1976 Montreal Olympics – during an auction this summer. According to SwimSwam, the auction earned Louganis more than $430,000. 

He previously attempted to sell his medals at auction in 2022 and again in 2023. 

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Louganis said in his post that he hopes the sale of his home and prized medals will help him find himself in this fresh start. 

“Now I get to discover who is Greg Louganis? Without the distraction and noise from outside. At least this is my goal, and hey, I may not find that. I think I may find it at times, in moments, my goal is to live it! Discover, allow, and nurture that human spirit through the experiences of life.” 

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Louganis won his first medal in 1976 when he placed second in the men’s 10-meter platform event at age 16. He won gold in both the 3-meter springboard and 10-meter platform events in the 1984 Games in Los Angeles and defended those titles in Seoul in 1988. 

Louganis became the first man in Olympic history to sweep the diving events in consecutive Games, and many believed that if it wasn’t for the American boycott in 1980, it would have been three consecutive Olympics. 

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