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Retirement is profitable for Sr Chris Hoy who pulls in £500k a year

But his large dividend payment is just half of last year's takings of £1m...

The Olympic champion cyclist Sir Chris Hoy is enjoying a comfortable retirement, with company papers revealing he takes home half a million pounds a year.

Sir Chris, winner of six Olympic golds, and his wife Sarra are shareholders in his firm Trackstars Limited, which made £639,000 profit last year.

Hoy’s business ventures include his range of cycle clothing and bikes under the Hoy brand at Halfords, and his work to promote PureGym.

He has also been the face of Gillette and Kellogg’s Bran Flakes in advertising campaigns.

In addition he has been part of the BBC’s Olympic commentary team.

However it isn’t all good news for the couple, who hold shares in a 75 per cent - 25 per cent split favouring Sir Chris.

Profits are down on the previous year, when the couple shared £960,274.

Before Beijing, Hoy received just £24,000 a year in Lottery grants as well as small-scale sponsorship deals, according to This Is Money.

Last year we reported how in 2012, Hoy’s finances came under the spotlight when it was revealed that he had received a loan of £325,000 from the business.

However, he insisted everything was above board, saying: “Everything I have done is as a UK resident and is UK taxable and not offshore. “The dividends that I took to repay the loan were in fact taxed at the highest rate.”

He added: “I saw an opportunity to buy property and with the guidance of my advisers I borrowed money from my company to do so. The loan was repaid shortly thereafter by declaration of fully taxable dividends.”

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9 comments

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FatBoyW | 6 years ago
1 like

Can't see any bashing...

Frankly I'd have thought he needs to get as much in as quick as possible as it will be amazing how quickly he will become 'Who?'instead of 'Hoy!'.

 

Especially as the bikes are not as yet taking off in the same way as that other Chris's have.

 

Do you remember that other famous face of Kellogs - Jason? I think he is attributed with strting the big run of success for BC. Where is he now btw...

Avatar
FatBoyW | 6 years ago
0 likes

Can't see any bashing...

Frankly I'd have thought he needs to get as much in as quick as possible as it will be amazing how quickly he will become 'Who?'instead of 'Hoy!'.

 

Especially as the bikes are not as yet taking off in the same way as that other Chris's have.

 

Do you remember that other famous face of Kellogs - Jason? I think he is attributed with strting the big run of success for BC. Where is he now btw...

Avatar
srchar | 6 years ago
0 likes

What's the point of this story, other than to bash a bloke for working hard, doing well and becoming moderately rich?

Avatar
Spacer replied to srchar | 6 years ago
0 likes
srchar wrote:

What's the point of this story, other than to bash a bloke for working hard, doing well and becoming moderately rich?

 

I must have missed the bit where he got bashed.

Avatar
maviczap | 6 years ago
2 likes

And the point of this story is?

Boy worked hard all his life on meagre wages and is making hay whilst the sunshines.

Compared to other sports he's way down the earning table.

Avatar
iso2000 | 6 years ago
2 likes

Think you'll find his bikes are available from Evans rather than Halfords.

Avatar
Leviathan | 6 years ago
0 likes

Señor Hoy, I thought he was Scottish?

Avatar
ConcordeCX replied to Leviathan | 6 years ago
1 like
Leviathan wrote:

Señor Hoy, I thought he was Scottish?

Hoy is Spanish for Today. He must be descended from sailors of the Armada, shipwrecked as they circumnavigated Britain to escape Drake.

 

Avatar
BehindTheBikesheds replied to ConcordeCX | 6 years ago
1 like
ConcordeCX wrote:
Leviathan wrote:

Señor Hoy, I thought he was Scottish?

Hoy is Spanish for Today. He must be descended from sailors of the Armada, shipwrecked as they circumnavigated Britain to escape Drake.

 

Hoy is Gaelic/Old Norse as it happens.

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