In the run-up to the Olympics, Eric Sprott set a performance goal for Canadian athletes that looked impossibly high.
Sprott Asset Management and a private foundation run by the gold-bug founder promised a $100,000 donation for each gold medal our Olympians won at the Games. The money is pledged to Canadian Athletes Now Fund (or CAN Fund.)
To spur on both athletes and fellow executives, who were being asked to make donations of their own, Mr. Sprott said he hoped to write the largest possible cheque, and he held out the prospect of Canadian Olympians capturing 15 first-place finishes.
Those who were at the press conference didn't take this prediction too seriously: Sports experts were projecting Canada would finish the Games with less than 10 trips to the top of the podium. No country had ever won more than 13 events at the Winter Games.
Never underestimate Mr. Sprott's abilities when it comes to gold.
As we all now know, Canadian athletes did themselves and their country proud by winning a record 14 gold medals at the Games. Signing the $1.4-million charity cheque should be a joy for Mr. Sprott.
Sprott Asset Management is one of Canada's most successful money management firms, with $4.3-billion of assets under management. Sprott Asset Management is a division of publicly traded Sprott Inc. The organization that's getting this donation, CAN Fund, provides up to $12,000 a year to amateur athletes, in both summer and winter Games.