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Olympic Games, here's how much a gold medal costs / Rewards for athletes who win a place on the podium
2024-07-31 23:09:27 / SPORT
Money, apartments, land, cars, jewelry. These are some of the prizes that athletes receive if they manage to win a medal at the Paris 2024 Olympic Games.
The International Olympic Committee awards only medals, which have a purely symbolic value, while individual countries decide the rewards, cash or otherwise.
Italy is among the most generous nations, but Hong Kong and Singapore are not competing, even if the prize offered by Saudi Arabia, which promises to be a millionaire, has not yet been revealed. But let's go in order.
The XXXIII Olympic Games begin in Paris, France, where 206 countries and over 11,000 athletes participate. 329 competitions will be held in 32 sports to determine who are the strongest world champions in various Olympic disciplines. But how much is an Olympic gold medal worth? How much do athletes who manage to climb the podium earn?
The International Olympic Committee does not award cash prizes to athletes, but only medals which, however, have a purely symbolic value. The most prestigious with 6 grams of gold wrapping and a 505 gram silver core is worth just under $1,000 at the current exchange rate.
But this year there is big news: World Athletics has announced that it intends to pay $50,000 for each gold medal awarded, making athletics the first Olympic sport to offer cash prizes.
Athletes participating in the Olympic Games can only hope for the rewards offered by the nation they represent. But not all governments decide to reward their champions. CONI, however, once again confirms itself as one of the most generous Olympic committees, deciding to reward Italian athletes who win the podium in Paris with:
180 thousand euros for the gold medal;
90 thousand euros for the silver medal;
45 thousand euros for the bronze medal.
Number one Giovanni Malagò hopes that we can surpass the 40 medals won in the last edition at the Tokyo 2020 Olympic Games, in which 10 gold, 10 silver and 20 bronze were won. On that occasion the Italian Olympic Committee awarded the Italian athletes 2.43 million euros gross.
Paris 2024 Olympics: the prices offered by other nations
However, the compensation offered by the United States is lower, considering that they usually win a lot of medals. Suffice it to say that at Tokyo 2020 they topped the Olympic medal table, winning 113, of which 39 were gold. This year in Paris, gold is paid 35 thousand euros, silver 21 thousand, bronze 14 thousand.
Following the same logic, countries with less chance of winning offer bigger prizes, such as Hong Kong (€700,000 for the gold medal) and Singapore (€650,000). In addition to the 550,000 euros for the most prestigious medal, the government of Taiwan also pays a monthly salary of 3,700 euros. It is not yet known how much Saudi Arabia will decide to offer its champions, after karate player Tereg Hamedi has given 1.2 million euros for the medal in Tokyo.
The gold for the athletes of Canada, Denmark and Australia is worth a little less than 15 thousand euros, while those of Great Britain, Sweden and Norway will remain empty-handed since the governments have decided not to offer them any reward. Germany will reward those who take the eighth place, Morocco up to the 32nd place, while Iraq will reward everyone just for participating in the Olympics, the donation of land, a monthly salary and 6,000 euros.
Not just cash prizes
Among the prizes offered by the nations, however, there are not only monetary rewards, but sometimes quite strange gifts. Poland will also award a diamond, a travel voucher for two worth around 23,000 euros and an apartment in Warsaw to the athletes who manage to climb the podium.
Kazakhstan has also thought about real estate, it will offer a three-room house for gold, two for silver, one for bronze. On the other hand, Malaysian athletes were promised a car, while Indonesia thought of cows, sacred animals for them, and South Korea thought of military exemption.
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