Bolt to miss Crystal Palace meet

Double world record holder Usain Bolt will not compete at next month's Crystal Palace Diamond League meeting in London because of British tax rules.



The Olympic and world champion in the 100 and 200 metres said he decided to skip the event after his agent informed him he would lose money by competing in London.



Bolt's agent Ricky Simms said the British tax law stipulates that foreign sports stars have to pay taxes on their worldwide endorsements, a situation that in recent sports has kept a lot of the big stars away from Britain.



Simms says Bolt is possibly the first athlete to have endorsements at the level where he stands, but he will see his fees greatly diminish after taxes.



Simms didn't say how much Bolt would have been paid by competing in London.



According to British newspaper the Daily Mail, if Bolt competes once in Britain and only five races elsewhere, the British tax will demand one-sixth of his global earnings.



Simms says it is unlikely Bolt will compete in Britain again unless the country changes its tax rules.



Bolt matched the fastest time this year in the 100 last week in Lausanne, Switzerland where he clocked 9.82 seconds on his return to competition following an Achilles' tendon injury.