Paris Olympics 2024 Prize Money: Here's How Much Athletes Will Earn For Winning Medals at Summer Olympic Games in France
The Paris Olympics 2024 are in full swing with as more than five days of the event has commenced. Nations such as Japan, China, United States, Great Britain and Australia are dominating the event and are amongst the top five nations in the medals tally. However, do they receive any prize money by IOC?
With the Paris Olympics 2024 underway, every day tons of athletes are winning many medals every day whereas many new records are being made and broken. Nations such as the United States of America, Australia, Great Britain, Japan, China and France currently dominate the medals tally list and have their name in the top five nations. In every sporting tournament, such as the football world cup, cricket world cup, badminton championships or tennis tournaments, the winners certainly get a fixed amount of prize money. However, many fans would be very keen to know whether the IOC give any prize money to Olympic medalists or not. Lakshya Sen Qualifies for Paris Olympics 2024 Quarter-Final After Defeating HS Prannoy in Men's Singles Round of 16 Match.
How Much Prize Money Does Paris Olympics 2024 Medalist Get from IOC?
Some medalists receive additional cash incentives for their accomplishments in addition to a medal, a cuddly toy of the Olympics mascot, and a "mysterious" package holding the official event poster. The International Olympic Committee doesn't give any prize money to the medal winners. However, they do get additional financial support from the government of their respective countries. Paris Olympics 2024: Indians Falter in Men’s, Women’s 20km Race Walk Events.
As per a report by CNBC, Hong Kong give their athletes the most financial aid for winning a gold medal, which is INR 6,43,33,516.80. The silver medalists are awarded INR 3,21,60,576 followed by INR 1,60,80,288 to bronze medalists. While the IOC doesn't give any financial aid to athletes for winning medals, an initiative by World Athletics might bring some change to this tradition. The World Athletics has announced to give USD 50,000 to every Olympic champion in athletics at the Paris Olympics 2024 which is INR 41,86,945. The money will come from the USD 2.4 million which is given to World Athletics after every four years.
(The above story first appeared on LatestLY on Aug 01, 2024 07:41 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).