Olympic Games: Payouts and rewards to champs

Athletes train their whole lives for the opportunity to win an Olympic medal. The step onto the podium is the culmination of a lifetime of effort, determination and sacrifice.

Victorious athletes at Paris received their medal and a box containing the official poster of the Summer Games. But these were not the only rewards many Olympic champions received.

More than 40 nations rewarded their victorious athletes with bonuses of varying levels of generosity. More than 25 nations offered over US$100,000 to athletes who returned from Paris with a gold medal.

The U.S., meanwhile, rewarded its champions with a prize of US$37,500. However, this is rather more generous than the bonuses given to athletes from nations like Great Britain, Sweden and Norway who get nothing. But it only puts Team U.S.A. 35th on the list of most generous nations.

So as the Paralympics get ready to get underway, CNN Sport takes a look back at some of the eye-popping – and not so impressive – rewards athletes earn for winning Olympic glory.

More than gold

Fencing is not known as the most financially lucrative of sports, but fencers Cheung Ka Long and Vivian Kong from Hong Kong returned home with more than just gold medals. The city-state – in collaboration with the Hong Kong Jockey Club – is very generous to its successful Olympians, paying out HK$6 million, around C$1 million, to athletes who win gold.

Don’t feel too sorry for Hong Kong’s two bronze medalists, as they were rewarded with HK$1.5 million (over C$260,000) for their efforts. All the medal winners can also look forward to free railway tickets for life, courtesy of railway giant MTR.

However, these are far from the most generous payouts available to Olympic athletes.

Saudi Arabia is yet to win an Olympic gold medal, but whichever athlete does so first can look forward to a hefty pay day. Five million riyals (approximately C$1.8 million) is promised to any Saudi Olympic champion, according to Reuters.

Student athlete Tareg Hamedi became a millionaire overnight when he won a karate silver medal for Saudi Arabia in the 2020 Games in Tokyo and Crown Prince Mohammed bin Salman decided he had earned the reward promised to gold medalists.

Asia is arguably the most generous continent to its athletes, with six of the top 10 payouts from this year’s olympics coming from there. Georgia is the only European country to make it into the top 10, with Serbia’s €200,000 (about C$301,000) and Italy’s €180,000 (roughly C$271,000) for gold medalists just missing out.

Countries tend to be more generous to victorious athletes when the nation has less history of success.

Filipino gymnast Carlos Edriel Yulo won two gold medals in Paris – the only golds ever won by a male Filipino athlete. As a result, he was awarded 10 million pesos, around C$703,000, by the government.

Filipino President Ferdinand Marcos decided to throw an extra 20 million pesos on top, bringing his total cash reward to 30 million pesos (over C$2,109,000).

The 24-year-old gymnast is not just being rewarded with money, however. Organizations and individuals from around the country have showered the sporting star with gifts. Among other treats, Yulo can reportedly look forward to receiving a set of headlights, free ramen and colonoscopies for life, university credits and a condo, according to multiple reports, including the Wall Street Journal and the BBC.

No national service

The Philippines is not the only nation to reward its victorious athletes with non-financial perks.

South Korean gold medalists were rewarded around $50,000 and an exemption from the country’s mandatory national service.

Olympic champions from countries such as Kazakhstan and Tajikistan were promised apartments by their home nations. The Iraqi soccer team and weightlifter Ali Ammer Yasser were reportedly given land and money just for qualifying for the Games.

Uzbek medalists were awarded cars that increased in value the higher they placed in the Games, with the country’s eight gold medalists receiving a Chevy Tahoe car worth around $80,000. Romanian billionaire Ion Țiriac honored his pledge to give Hyundai vehicles to every medal winner from the country.

In addition to being awarded 250,000 złoty (around C$88,000) gold medalists from Poland were rewarded with a two bedroom apartment, a painting and a voucher for a holiday. Silver and bronze medalists received smaller sums and missed out on the apartment.

So, if you’re looking to win a hefty pay day – as well as a gold medal – competing for Hong Kong or Saudi Arabia is probably your best option. But if certain unlimited healthcare is your goal, making sporting history for the Philippines is the way to go.