Paris Olympics: What prizes does Olympic winners receive besides medals

NEW DELHI: As the world's top athletes converge in Paris for the Olympics, gold medal winners will receive not just medals but also significant cash rewards from sports federations. World Athletics will award $50,000 to track and field gold medallists, a first for the federation. The International Boxing Association will offer $100,000 to boxing gold medallists, despite losing IOC recognition last year.
Traditionally, the Olympics have not presented winners with large monetary rewards. However, national governments, organizations, and sports federations have been known to offer their own incentives to successful athletes.
"In a groundbreaking move, World Athletics has announced that Olympic gold medallists in track and field events will receive a reward of $50,000, marking the first time a sports federation has taken such a step."
"Similarly, the International Boxing Association, despite losing IOC recognition last year due to financial and governance issues, has pledged to offer $100,000 to boxing gold medallists, setting a clear example for many on how international federations should be treating their champions."
These monetary rewards have sparked debate within the Olympic community. Some federations argue that this approach goes against the spirit of Olympism and provides an unfair advantage to sports with more financial backing.

The IOC maintains that federations should prioritize reducing inequality within their respective sports rather than focusing on rewarding winners.
However, sporting bodies and athletes have defended the practice, emphasizing the importance of recognizing top performers who generate publicity and revenue for both the Olympics and their individual sports. They have also called for a more equitable distribution of prize money across all Olympic events.
World Athletics president Sebastian Coe recently emphasized the importance of ensuring that a portion of the revenues generated by athletes at the Olympic Games is directly returned to those who make the event the global spectacle that it is.
While it may be impossible to assign a marketable value to winning an Olympic medal or the dedication required to represent one's country at the Games, Coe believes it is crucial to start somewhere.
"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."
Apart from the select federations that will compensate their champions, some countries also provide bonuses to those who bring home medals, although the prizes offered can vary significantly.
Saudi authorities awarded karate athlete Tareg Hamedi 5 million riyal (approximately $1.33 million) after he narrowly missed the gold and settled for silver due to disqualification over an illegal kick at the Tokyo Olympics , which may be the single largest payout for an Olympic medal.
Wealthy gulf states like Bahrain and Qatar, known for attracting foreign athletes with lucrative deals, also offer substantial rewards for sporting medals.
In 2005, Qatar notably offered top South African swimmer Roland Schoeman a multimillion-dollar contract, including a one million rand (over $50,000) bonus for every Olympic medal or world title won, although Schoeman ultimately declined the offer.
Hong Kong's gold medalists at the Paris Olympics, if any, will receive one of the largest cash rewards available: HK$6 million (over $750,000), as part of the city's Athlete Incentive Awards Scheme, sponsored by the Hong Kong Jockey Club, the city's official betting organizer.
Similarly, Singapore, through its Major Games Award Programme, largely sponsored by the national lottery board, offers substantial rewards for individual winners, team event winners, and team sport winners.
Taiwan's Olympic gold medalists receive NT$20 million (over $600,000) and a lifetime monthly stipend of NT$125,000 (about $4,000) under a government medal program.
Other governments that have offered or pledged six-figure cash rewards to their Olympic champions include Indonesia, Kazakhstan, Malaysia, Morocco, Italy, the Philippines, Hungary, Kosovo, Estonia, and Egypt.
In some cases, athletes receive rewards from both their governments and national sports organizations. The Indian government offers Olympic gold medalists 7.5 million rupees (about $90,000), while the Indian Olympic Association separately rewards them with 10 million rupees (about $120,000).
Under the U.S. Olympic & Paralympic Committee's Operation Gold program, Olympic gold medalists receive $37,500, while silver and bronze medalists receive $22,500 and $15,000, respectively.
National sports organizations also have their own programs to reward athletes, with USA Wrestling's Living The Dream Medal Fund offering $250,000 for Olympic gold medals and USA Swimming offering $75,000 for the same.