American athletes who compete in the Olympics moving forward will receive significantly more money than their rival Canadian competitors.
While competing in the Olympics is a huge honour for all athletes, the money they earn isn’t as much as you would expect. In fact, many wind up working other jobs in order to afford all the costs of being such a high-level athlete, such as training and nutrition.
However, thanks to a $100-million donation from philanthropist Ross Stevens, there won’t be nearly as much financial stress for American athletes.
Going forward, U.S. representatives at both the Olympics and Paralympics will receive at least $200,000 in post-retirement benefits.
“The Olympic and Paralympic Games are the ultimate symbol of human excellence. I do not believe that financial insecurity should stop our nation’s elite athletes from breaking through to new frontiers of excellence,” said Stevens.
“Team USA athletes, extraordinary individuals, have proven they can achieve greatness and represent our incredible country with pride. The Stevens Awards honor the sacrifices they have made on behalf of all Americans while inspiring the development of their dreams in the post-Games chapter of their lives.”
The athletes will receive $100,000 20 years after competing in any Olympic or Paralympic event or after they turn 45 years old — whichever comes later. Their families or beneficiaries will receive an additional $100,000 upon their death.
This new pay structure isn’t the only bonus U.S. Olympians have over Canadian athletes.
When comparing medal bonuses, Canadian Olympic athletes receive $20,000 for a gold, $15,000 for a silver, and $10,000 for a bronze. While these rewards are significant, they are still lower than those given to American athletes. U.S. Olympians earn $37,500 for a gold, $22,500 for a silver, and $15,000 for a bronze — substantially more than their Canadian counterparts.
Athletes do receive some support from the Canadian Olympic Committee (COC) for living and training expenses, though it pales in comparison to this new money granted for American-born competitors.
Aside from that, the Canadian athletes rely on fundraisers and sponsorship deals to help pay for things such as competition travel. It is far less than they deserve, given their talent and the amount of work they put in to be at their best.
This disparity makes the remarkable perseverance of Canadian Olympians all the more impressive, as they continue to push their limits despite financial challenges.
Andrew Nelles-Imagn Images
