How Much Athletes Earn for Winning a Gold Medal at the Olympics
There’s lots of good reasons to become an Olympic athlete, but could it be a large payday? Here’s how much Olympic athletes are compensated for taking part through the International Olympic Committee (IOC): zero dollars.
And that is even though the IOC makes millions every year. Mark Cuban &mdash possibly unhappy at how his Mavericks gamers could be requested to participate in the Olympic games without pay
But that does not imply that athlete’s earn nothing, by itself. To begin with, a number of different, non-IOC groups do hand out money.
For instance, the U . s . States Olympic Committee pays out medal bonuses: $25,000 applies to gold, $15,000 for silver and $10,000 for bronze (Though, as Yahoo! Sports notes, these prices haven’t transformed in ten years, and therefore are now worth over 5 grand less because of inflation). American athletes could also expect more compact awards &mdash a fund setup for wrestlers which will award a gold medal champion $250,000 springs in your thoughts.
Other nations sometimes hand out a great deal larger rewards &mdash any Malaysian gold medal champion will receive a gold bar worth $600,000 (not too there has been any since 1956).
Then, obviously, there’s sponsorship money, which may be huge for that large stars. For instance, Ryan Lochte, the most recent darling of america go swimming team, is broadly likely to collect over $two million this season in sponsorship deal money (a minimum of part that will associated with medal performance).
However, there’s a catch with this particular money &mdash you simply have it if you’re famous and/or win. Most athletes aren’t. You will find roughly 15,000 athletes competing in 26 sports, with around 1,000 medals available for that the best.
For that relaxation from the Olympic athletes, the amounts get tough. Figures in the USA Track and Area Foundation discovered that only half US track and area athletes rated within the top in america make a lot more than $15,000 annually in the sport. Many in additional obscure sports are lucky to create anything whatsoever.
Incoming search terms:
- How much money does an American athlete earn from the U S Olympic Committee for winning a gold medal in the Olympics?