It's payday for the best female gymnast in the world.

Simone Biles, who is just days removed from outdueling Gabby Douglas at the Secret Classic, announced that she will be turning professional and signing with the sports agency Octagon, who represents several high profile athletes, such as Michael Phelps, Natalie Coughlin, and fellow gymnast Aly Raisman.

Biles, 18, was accepted into UCLA and had deferred her enrollment until after the 2016 Olympic Games, but has now decided to forgo collegiate athletics in exchange for professional representation.

“While I am grateful for the opportunity to compete collegiately, I feel that the chance to make my dream come true is right in front of me,” Biles said in a press release. “In order for me to be the best gymnast I can possibly be, I want to be sure that I have the necessary support and guidance in handling opportunities and demands outside of the gym. I know there are no guarantees, but I am excited and determined to be a member of Team USA at the 2016 Olympics.”

Her first endorsements have not been announced yet, but there is a high probability that one of them will be with GK Elite, a leotard brand based in the United States. Douglas, Raisman, Nastia Liukin, Shawn Johnson, and Carly Patterson are all either currently or have previous been sponsored by the company. Other endorsements should be easy to come by for Biles, whose outgoing personality should translate well into commercials and print ads. 

In October, Biles is seeking to become the first American women to ever win three straight World Championships, and is the heavy favorite to do so. She defeated reigning Olympic gold medalist Gabby Douglas this past weekend, and currently has a total of nine medals over the course of two World Championships. She is tied for second with Hall of Famers Nastia Liukin and Shannon Miller. She needs two medals to pass Alicia Sacramone as the most decorated American in World Championship history.

Barring injury, she is a virtual lock to make the Olympic team in 2016. With Gabby Douglas, they have the potential to become the greatest 1-2 combination in the history of women's gymnastics. Adding Raisman, along with a healthy Mykayla Skinner could make the 2016 team the greatest women's gymnastics team of all time. Biles is seen as the greatest gymnast in the world, and perhaps the greatest female athlete. Nastia Liukin, who won the Olympic gold medal in 2008, seems to echo those statements.

“I keep saying, if the Olympics were this year, then without a doubt she would be the Olympic all-around champion,” Liukin said of Biles in an October interview. “It’s hard because you have to be patient, and you have to take your time, and you have to put together a training plan to not peak too early. As of right now, it would be very hard to find someone better than her.”

To her credit, Biles has done her best to shy away from such lofty praise. She has said that all of the talk "freaks her out", and that she doesn't consider herself to be the best gymnast in the world.

“I still don’t admit to the fact. And I just think I’m a normal kid.”

Biles' first competition as a professional will be the P&G Championships, which will take place August 14-16th. The event will be the final event for American gymnasts to prove themselves before the World Championships, and Team USA will be announced immediately following the event. The event is taking place in Indianapolis, and Biles has been promoting the event both in the city and on social media. The P&G Championships also represent a turning point towards the Olympic Games - it will mark the one year countdown to the opening ceremonies. Biles refuses to look ahead to the Olympic Games, as there is still work ahead of her.

“I still take it day by day because you never know what can happen,” Biles said. “So you can’t upset yourself about the Olympics or stress about it because you have no control about it. You can’t stress because it’s still so far away.”

Biles will be a significantly richer human being by the end of 2015, but she is not going to allow newfound wealthy and fame to change her outlook and her goals. While Biles may be one of the most decorated Americans in gymnastic history, she is missing the ultimate trophy that all gymnasts strive for - an Olympic gold medal. While Biles continues to improve and add to her routines, the rest of the world knows that she is the person to beat at every event. Biles seems ready for the challenge.