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How much athletes are paid to win the Olympics and Paralympics

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How much athletes are paid to win the Olympics and Paralympics

Let the games begin! After the impressive medal ranks at the Olympics and Paralympics, the athletes can count on an impressive salary for each competition victory.

Olympians traditionally receive a generous monetary bonus from their home country after winning a gold, silver or bronze medal in their sport.

While the International Olympic Committee (IOC), which organizes the Games, does not pay athletes for their victories, many countries offer some form of compensation for a podium position themselves.

For example, the United States offers winners a modest salary per medal while other countries set their own bonus amounts. For example, according to CNBC, Singapore pays gold medalists $ 744,000 and Italy pays their first-placed $ 212,400. However, not every country offers cash bonuses after a medal finish, including the UK, New Zealand and Sweden, according to a Forbes report. Some countries, including England, may instead offer their participants scholarships or grants from national sports federations.

For Team USA, the American Olympic and Paralympic Committee (USOPC) rewards victorious athletes with a fixed amount, but the athletes can generate other income to increase their salaries. Many well-known games participants also collect millions of euros from well-known brands. For example tennis champion Naomi Osaka became the highest paid female athlete in 2020, earning a lucrative $ 37.4 million in prize money and advertising contracts, according to Forbes. She has 15 current deals, including one with Nike.

Other athletes can do additional jobs outside of their training to supplement their sources of income. For example, Ilona Maher plays for the US Women’s Sevens rugby team and also works as a nurse, according to her Instagram profile.

Compared to the Olympics and their high cash prizes, Paralympics winners have historically not earned that much for each medal. The New York Times previously reported that Team USA athletes received $ 7,500 per gold; $ 5,250 per silver and $ 3,750 per bronze.

In September 2018, the International Paralympic Committee announced that future Olympic champions would earn as much as participants. This new regulation increases your winnings payouts by up to 400 percent.

“Paralympists are an integral part of our athletic community and we need to ensure that we reward their achievements appropriately,” CEO of the US Olympic Committee (USOC) Sarah Hirshland said in a statement. “Our financial investment in the US Paralympics and the athletes we support is at an all-time high, but this was one area where there was a mismatch in our funding model that we felt needed to be changed. I am thrilled that we have brought parity and equality to our Operation Gold program and we aim to continue building on the success of Team USA in Pyeongchang. “

The USOC monetary increase will also retrospectively pay more than $ 1.2 million to the 2018 Winter Paralympic Champions.

Paralympic champion in Nordic skiing Oksana master tweeted her emotional reaction to the news at the time: “As I read this, tears literally streamed down my face for not only the equal payment of @ Paralympics medals to @USParalympics athletes, but the worth and worth of the Para-athletes who have finally been spotted @Olympics. That changes the life of @TeamUSA absolutely, thank you. “

Scroll below to see how much Team USA Olympic and Paralympic athletes collect after winning a gold, silver or bronze medal:

Google News Source * www.usmagazine.com – * Source link