File photo of Neeraj Chopra
The 2024 Olympics is set to bring an unprecedented windfall for athletes competing in Paris Games. It isn’t just the Gold, Silver and Bronze medals that the athletes will be competing for this year, with different federations announcing various cash rewards for sportspersons, based on their performances. Traditionally, the Olympic Games have refrained from rewarding players with cash prizes, but the trend seems to be changing this year. Though governments of countries and national sporting federations have usually rewarded players with cash prizes upon significant achievements in the Olympic Games, this time, even international federations have announced rewards.
World Athletics have already announced a USD 50,000 cash reward for every gold medallist in track and field events this year. Following the suit, even the International Boxing Association has pledged a whopping USD 100,000 cash reward for gold medallists across categories.
“While it is impossible to put a marketable value on winning an Olympic medal, or on the commitment and focus it takes to even represent your country at an Olympic Games,” said World Athletics president Sebastian Coe in April, “I think it is important we start somewhere and make sure some of the revenues generated by our athletes at the Olympic Games are directly returned to those who make the Games the global spectacle that it is.”
However, not everyone is on board with the idea. Some federations, who have not announced such cash rewards, are against the idea, saying giving out prize money is against the spirit of Olympism and creates an unfair advantage of players preferring certain sports over others. Sporting bodies, however, feel players should be rewarded for their hard work.
The Indian government reportedly offered Olympic gold medalists 7.5 million rupees (about $90,000) in the past, while the Indian Olympic Association also gave athletes a separate reward of 10 million rupees (about $120,000).
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