A $100 million donation by a philanthropist Ross Stevens to the US Olympic and Paralympic Committee (USOPC) has opened the doorways for American athletes who’ve represented the nation at Olympics and Paralympics to obtain at the very least $200,000 in post-retirement advantages, the governing physique for Olympic and Paralympics sports activities in USA introduced on Wednesday.
All eligible athletes who’ve competed at Olympics and Paralympics are eligible to obtain a “Stevens Monetary Safety Award” consisting of two six-figure funds, US media reported. Of this, the households of the athletes shall be eligible to obtain $100,000 upon their loss of life. And the opposite half shall be given to the athlete over a four-year interval after the tip of their Olympic or Paralympic careers (20 years after their qualifying Video games or once they flip 45 years outdated, whichever is later).
As a part of this system to supply a security web for athletes who’ve represented USA, they’ll obtain $200,000 in advantages for every Video games wherein they compete. So an athlete competing in three Olympics or Paralympics would obtain $600,000 in advantages.
- 01
What did American Olympic medallists for Paris 2024 earn?
As per USOPC’s “Operation Gold” program, athletes earned $37,500 (roughly Rs 32 lakh) for each gold medal in Paris, $22,500 for each silver and $15,000 for every bronze. Athletes who compete on the Olympics or Paralympics for USA often generate income from sponsorship offers and look charges (versus main skilled crew sports activities like basketball or baseball, the place an athlete has a contract with their franchise that assures them a month-to-month wage even in case of unhealthy efficiency or harm).
As per a USA At this time report, the cash an American gold medallist was given by USOPC paled compared to many different nations. The highest bonuses for profitable a gold medal at Paris 2024 went to: Serbia ($214,900 or roughly 1.8 crore), Malaysia ($212,180), Morocco ($200,525), Italy ($193,410) and Lithuania ($180,188).
USOPC Chair Gene Sykes mentioned: “These extraordinary people have dedicated their lives to their sport, usually on the expense of conventional profession paths and monetary financial savings. As they strategy the tip of their aggressive journeys—usually as younger as 25 or 30—many face a frightening actuality: the dearth of monetary financial savings to help them and their family members of their post-athletic life. Due to Ross’ extraordinary generosity and philanthropic creativity we are able to create greater than a monetary security web— we are able to construct a springboard that can propel these athletes to even better heights past their Olympic and Paralympic careers.”
Group USA regularly tops the medals tally on the Olympics. At Paris 2024, Group USA was represented by 595 athletes. The nation gained 40 gold medals, 44 silvers, and 42 bronze medals to high the medal podium with a complete of 126 medals.
© IE On-line Media Providers Pvt Ltd