LONDON Athletes competing in Olympics are not usually paid for
their participation, but most competitors who come out on top are rewarded in
cash by their national Olympic Committee. Most times, the real money is in
promotional contracts: Some of the most stellar athletes bring in millions with
marketing deals and endorsement.
After eight days of the summer Games we have seen athletes
being distinguished the best of the best. Summer Olympians are breaking records
and winning medals. You might think that the joy of winning a medal is enough,
but a lot of athletes get an extra incentive: a lump sum of cash for their
winning efforts.
One of the most outstanding endorsements so far is Qatar
Telecommunication’s (Qtel) identification with Nasser Saleh al Attiyah’s bronze
medal feat in the men’s skeet (rifle shooting) event. The company has promised
to provide him with a special Shahry Line with unlimited SMS, mobile, internet,
local and international calling for life.
Though no confirmation of any financial reward from the
Qatar Olympic Committee, one can be rest assured that for putting Qatar on the
world map with its historic achievement, Qatar’s sporting excellence in
rewarding its own will be monumental.
While we are still celebrating Nasser’s feat, not all
countries participating in the Olympics offer cash reward. Athletes from the
host nation, Great Britain, aren't getting any money for their efforts as the
British Olympic Committee (BOC) believes that the medals and efforts are
enough.
Gold medalist from Team GB at this year's home Olympics will
be immortalised in the national memory. According to Daily Mail, for Team GB stars the
rewards are far less tangible. From the moment any take gold; the Royal Mail
will begin designing a stamp bearing their image and deliver them to 500 post
offices for sale the following day. The champions' stamps will be available in
books of six for £3.60 or individually for 60p - to be immortalised forever
among philatelists.
But for competitors from some other nations, prestige isn't
the only thing driving them
For Americans a gold medal is worth $25,000. Silver and
bronze are worth payouts of $15,000 and $10,000, respectively. The 29 medals
won thus far have a total bonus value of $510,000. It’s a nice bonus for
America’s unpaid athletes, though the payout values have not increased for a
decade.
The United States is also far from the top of the payout
list. The biggest medal bonus is offered by Italy, which will pay more than
$182,000 for a gold medal. Russia’s medal rewards are also quite rich, and the
nation’s gold medal winners will collect $135,000. The bronze medalists will
take home $54, 400, more. Neighboring Ukraine has been considering an increase
to its already rich payout scale: $100,000 for gold, $75,000 for silver and
$50,000 for bronze.
African nation, Ghana has offered $20,000 for each gold
medalist.
South Africa's Olympic body, Sascoc, will reward all medal
winners competing in the London Olympic Games, having set aside R6-million ($721,542)
for the stars of both the Olympics and Paralympics.
According to Sascoc, gold medallists will receive R400 000 ($48,000)
and their coaches R100 000 ($12, 000. Olympic silver medallists will receive
R200000 ($24,000) and their coaches R50000 ($6,000), whereas bronze medallists
will be given R80000 ($9,600) and their coaches R20000 ($2,400).
In Armenia, its National Olympic Committee announced reward
in cash for his/her medal hopefuls.
A gold medal will be worth $100,000; silver, $75,000; and
bronze, $50,000.
National Olympic Committee president Gagik Tsarukyan has
said he will personally pay $700,000 to any athlete who scores gold for
Armenia.
Mexicans who wins a gold medal in individual event would
receive 500,000 pesos (about $37,000); silver medal, 250,000 pesos ($18,000);
and bronze medal, 125,000 pesos ($10,000).
Winning a gold medal in team sports would be awarded three
million pesos (about $223,000); silver medal, two million pesos ($149,000); and
bronze medal, one million pesos ($74,500).
In Malaysia, a gold medal could be worth more than $600,000.
Andrew Kam, owner of a Kuala Lumpur gold mine, has offered a gold bar valued at
two million Malaysian ringgit, or about $640,000, to any Malaysian badminton
player able to win a gold medal. If multiple players take home gold, they will
split the bar’s value.
Swimming Australia, which oversees the nation’s top
swimmers, implemented a new funding deal this year that will pay more than
$36,000 to gold medal winners in individual events; those involved with relays
that win gold will share more than $63,000. Those payouts are in addition to
the nation’s base medal bonuses, worth about $20,000 for gold, $13,000 for
silver and $10,000 for bronze.
For Team Nigeria, its National Sports Commission promised to
give N1.5 million ($100,000) to any athlete who wins a gold medal while silver
and bronze medalists are to get N1,000,000 and N500,000 respectively.
