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Thread: The "REWARDS" of medaling at the Olympics

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    The "REWARDS" of medaling at the Olympics

    With each Olympic Games, the rewards of winning a medal - especially a Gold medal - are in some ways obvious, but also in many ways unique. Some of these rewards are "tangible" - i.e., financial. Others, less predictable and perhaps more dependent upon circumstance (home country athlete?) or the moment (extraordinary performance or emotional moment).

    With Russia hosting its first ever Winter Olympic Games, the stakes are obviously high for the athletes, and the rewards potentially considerable.

    For Russian athletes winning gold - from the Russian government, will come a check for ~$122,000 (which is more than the $100,000 awarded back in 2010 for Gold). Silver earns $76,000. Bronze earns $40,000.

    http://www.nbcolympics.com/news/russ...lympic-bonuses

    What do you think?

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    LEAVE EDMUNDS ALONE!!1!
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    It would be interesting to see how the prizes compare between different countries.

    I remember a few Olympics back, Norway was the only country without any kind of financial reward. Taiwan had the highest one (1 million dollars for a gold medal), given international presence and recognition is very important for them.

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    Custom Title Sochi_2014's Avatar
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    I wasn't even aware that countries did this. How much does the US award for medals? And who pays it? US Figure Skating?

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    Wicked Yankee Girl dorispulaski's Avatar
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    Nothing, AFAIR. You do get a trip to Washington DC, though.

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    I found this for London 2012.

    BBC News - The Financial Incentives for Central Asian Olympians
    The Daily Torygraph 'No Cash Incentives for Great Britain's medallists'
    Business Week 'The Payoff From Winning an Olympic Medal'
    The Fiscal Times 'How 8 Countries Reward Their Olympic Medal Winners'
    Worth more than gold: Russians lead in total Olympic prize money

    (Please note that the amounts are very general approximations given the currency price fluctuations. It was also hard to get proper sources in many cases)

    Georgia - $1,200,000 for gold
    Malaysia - $300,000 cash + a gold bar worth $600,000 from a private sponsor + monthly allowance for the rest of their life for gold [source), $90,000 + two cars + lifetime $900/per month pension for their silver medallist
    Singapore - $800,000 for gold, $400,000 for silver, $200,000 for bronze (National Sports Association takes 20% so the figures are artificially inflated - still that's LOADS of money)
    Azerbaijan - $510,000 for gold
    Phillipines - £221,533 for gold (around $360,000)
    Thailand - £203,000 for gold (around $330,000)
    United Arab Emirates - $270,000 for gold
    Kazakhstan - $250,000 for gold
    Kyrgyzstan - $200,000 for gold
    Italy - $182,000 for gold
    Latvia - $172.000 for gold, $103,000 for silver, $62,000 for bronze
    Uzbekistan - $150,000 for gold
    Russia - $135,000 for gold (some regional governments offer additional prizes - $1M from Chelyabinsk - bonuses from the Russian Wrestling Federation)
    Ukraine - $100,000 for gold, $75,000 for silver, $50,000 for bronze
    France - $65,000 for gold
    Tajikistan - $63,000 for gold
    South Africa - $55,000 for gold
    China - $51,000 for gold, nothing for silver and bronze reported (plus local governments offering rewards)
    New Zealand - $NZD 60,000 for gold, $NZD 55,000 for silver and bronze (around $50,000 and $45,000 respectively)
    Poland - $40,000 for gold, $26,000 for silver, $16,000 for bronze
    Austria - gold coins worth $37,000 for gold
    Mexico - $37,000 for gold
    Japan - $36,000 for gold (some federations offering very large additional rewards)
    South Korea - £22,000 for gold in 2008 (around $35,000)
    United States of America - $25,000 for gold, $15,000 for silver, $10,000 for bronze
    Australia - $20,900 for gold, feature on a stamp and a flight upgrade home
    Canada - $20,000 for gold, $15,000 for silver, $10,000 for bronze
    Ghana - $20,000 for gold
    Germany - $19,500 for gold
    Nigeria - N1,500,000 for gold, N1,000,000 for silver, N500,000 for bronze (around $10,000, $6,000 and $3,000 respectively) (source)
    Great Britain - $0, features on stamps

    India - coaching jobs promised to medallists, financial rewards coming from various government bodies (Sports Ministry gave around $5,000 to the silver medallists, regional governments gave upwards of $161,000! - if you sum it all up, they got quite a lot) (source)

    Quote Originally Posted by Sochi_2014 View Post
    And who pays it? US Figure Skating?
    USOC.

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    Wicked Yankee Girl dorispulaski's Avatar
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    So the burning question is, are the numbers the same for Winter Olympics?

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    I would imagine that the prizes for the Winter Olympics are going to be lower, given they're not as big or prestigious of an event. Even though Russia is holding the games, the prize package for Russian athletes will be lower than for London 2012.

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    Most countries can offer whatever astronomical amounts they like for a gold medal... since they'll never actually have to pay up! :-D

    British rewards (or lack of) are a reflection of British investment in skating (or lack of), and sport generally. Sport is business, athletes and fans are resources to be milked for profit. Handing back some of that profit to athletes... is unthinkable.

    Mind you, don't British Olympic gold medallists have a good chance of a mention on The Queen's honours list? (I mean a prestigious award from Her Majesty Elizabeth the Second, by the Grace of God of the United Kingdom of Great Britain and Northern Ireland, and of Her other Realms and Territories Queen, Head of the Commonwealth, Defender of the Faith. Not a Christmas card from Yuna Kim ;-D)

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    Quote Originally Posted by YesWay View Post
    Most countries can offer whatever astronomical amounts they like for a gold medal... since they'll never actually have to pay up! :-D
    Most of the countries offering highest financial rewards did pay up. Georgia had one gold, three silvers and three bronzes, for example.

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    Quote Originally Posted by Ziggy View Post
    Most of the countries offering highest financial rewards did pay up. Georgia had one gold, three silvers and three bronzes, for example.
    And then there is good ol' Singapore who only has a medal tally of 4 in the entire olympic history.

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    Quote Originally Posted by Ziggy View Post
    France - $65,000 for gold
    Germany - $19,500 for gold
    Yeah. That's why I didn't become an Olympic Gold Medalist.
    Hey, Germany, that's just cheap!

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    Well countries with many candidates obviously offer a lot less. I am not aware of someone from Uzbekistan going for a gold medal, maybe in snowboarding or freestyle, but its still very unlikely

    Germany, Canada, USA will most likely get a few. That said, Russia offers a lot so does China. They can medal in various disciplines!

    I wonder what happens if a team wins gold, does the team get the money then or each athlete? Most likely the team, imagine Canada going for gold in Ice Hockey at the women´s and men´s bracket - the country would be ruined *laughs*.

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    Quote Originally Posted by Alex D View Post
    I am not aware of someone from Uzbekistan going for a gold medal, maybe in snowboarding or freestyle, but its still very unlikely
    Denis Ten?

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    Quote Originally Posted by Ziggy View Post
    Denis Ten?
    Denis Ten is from Kazakhstan. Misha Ge is the skater representing Uzbekistan in Sochi.

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    Quote Originally Posted by Near View Post
    Denis Ten is from Kazakhstan. Misha Ge is the skater representing Uzbekistan in Sochi.
    Brain freeze moment there.

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