Olympic legend auctions off gold medals and leaves USA for good: 'I needed the money'

A Team USA Olympic legend went against the advice of "experts" and sold his coveted gold medals at auction.

In a revealing Facebook post, the former athlete said he used the money to move abroad, selling a house in California, too. Apparently in financial strain, the Olympic hero explained that after the sales, he picked up his life and moved to Central America.

'I told the truth; I needed the money.'

A Wheaties box cover athlete and four-time gold medal winner, 65-year-old diver Greg Louganis said his career was mismanaged and he needed the money that auctioning off some of his medals would get him.

"I have auctioned three of my medals, which sold, I believe, because I went against what the 'experts' told me last time when I tried the first time," Louganis wrote in a surprising Facebook post.

Louganis sold two of his four gold medals, along with a silver medal, the New York Post reported. The high-diver won gold in the three-meter springboard and 10-meter platform dives at both the 1984 Summer Olympics in Los Angeles and the 1988 Summer Olympics in Seoul, South Korea.

His silver came in the 1976 Summer Olympics in Montreal, Canada, for the 10-meter platform dive.

Louganis' medals took in a reported $437,000 combined, the Post reported.

"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," Louganis continued.

In the same post, the retired Olympian said goodbye to his home, while selling/giving away his belongings before moving abroad.

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Greg Louganis competes in the Men's 10-meter platform competition at McDonald's Olympic Swim Stadium at the 1984 Summer Olympics, August 11, 1984. Photo by Rob Brown /Disney General Entertainment Content via Getty Images

"I decided to donate, sell what can be sold, give gifts, and give where things might be needed or appreciated," Louganis explained, revealing that he had a lot to consider regarding shipping and import fees when moving.

Now calling Panama home, the former diver was forced to confront the idea that he would be lacking in possessions when he moved, but he kept friends in mind who had lost their homes in some of California's wildfires, such as the Pacific Palisades fire in 2025 and the Woolsey Fire in 2018.

While Louganis' remarks left questions unanswered, including why Panama was the destination of choice, he chalked up his future to needing a spiritual journey to redefine himself.

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Greg Louganis attends the Los Angeles premiere of 'Strange Darling' at DGA Theater Complex on August 19, 2024, in Los Angeles. Photo by Michael Tullberg/Getty Images

"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," he wrote.

The Olympian added, "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. To be joyful in the moments, embrace the grief, the anger, and the laughter, and embrace it all, feel it all in this experience we call our lives."

In addition to his Olympic medals, Louganis won 11 more gold medals between the World Championships and Pan American Games from 1979 to 1986.

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