Paris Olympics 2024: How much prize money do players at the Olympics receive?
The Paris Olympics 2024, all set to be held in one of the world's most iconic cities, will be an extraordinary convergence of athleticism and culture. Scheduled from July 26 to August 11, 2024, this global spectacle will showcase athletes vying fiercely for Gold, Silver, and Bronze across myriad sports disciplines.
Sportspersons endure rigorous journeys of preparation to savor the sweet taste of success. But have you ever pondered just how sweet that success truly is? In simpler terms, what financial rewards do these champions actually earn for their monumental achievements?
Paris Olympics 2024: Medals and cash prizes
For the Paris Olympics 2024, each medal is adorned with a piece of the Eiffel Tower, making them highly coveted accolades.?
Interestingly, winning one of these medals does not come with any direct financial bonuses from the International Olympic Committee (IOC), the organisers of the Games.?
Apart from receiving a bouquet and their gold, silver, or bronze medal, athletes do not get any additional rewards directly from the Olympics organisers.?
Instead, it is the participating countries that provide financial incentives to their players through the national Olympic committees or government bodies.
For instance, the US Olympic Committee offers substantial payouts: up to $37,500 (Rs 31.35 lakhs) for a gold medal, $22,500 (Rs 18.81 lakhs) for silver, and $15,000 (Rs 12.54 lakhs) for bronze.?
Countries like Malaysia, Morocco, and Serbia reportedly offer as much as $200,000 to their medalists, while Italy provides $100,000 per medal.?
The Indian government has not yet announced prize money for medal winners at the Paris Olympics 2024.
But in a notable move this year, the World Athletics (WA) - the governing body of track and field - will introduce prize money for the first time, awarding $50,000 to gold medalists in each of the 48 track and field events, with relay teams sharing the amount.?
Among the 82 Indian athletes who have qualified for the Paris Olympics 2024, some prominent names include Neeraj Chopra in athletics, Nikhat Zareen and Lovlina Borgohain in boxing, Manu Bhaker in shooting, PV Sindhu in badminton, and Deepika Kumari in archery.
Here's a breakdown of the financial support announced by state and central governments for Indian sportsperson at the Tokyo Olympics 2020: (this isn't a comprehensive list)
Neeraj Chopra, the first Indian to win an Olympic gold medal in a track-and-field discipline, received multiple cash prizes after his historic win at the Tokyo Olympics 2020. The Haryana government awarded him Rs 6 crore and a Class I state government job. The Punjab government and BYJU'S each announced Rs 2 crore, while the Manipur government, BCCI, and IPL's Chennai Super Kings each extended Rs 1 crore. Additionally, IndiGo offered unlimited free travel for a year, and Anand Mahindra promised to gift him an XUV700 SUV.
Ace shooter Abhinav Bindra, who secured India's first individual Olympic gold medal at the 2008 Beijing Olympics, received a prize of Rs 50 lakh from the government. In total, his monetary rewards from various sectors amounted to ?4.81 crore.??
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