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How much should Olympic athletes be paid?

For the upcoming 2024 summer Olympic Games in Paris, World Athletics' historic announcement regarding prize money for track and field athletes.
By Mary Anderson
How much should Olympic athletes be paid?

For the upcoming 2024 summer Olympic Games in Paris, World Athletics' historic announcement regarding prize money for track and field athletes.

This year's summer Olympics will recognize athletes accomplishments in *** new way. *** way that's almost hard to believe didn't exist prior to now. Gold medal, track and field winners will receive equal prize money regardless of their home country. The announcement serves as *** reminder of the physical and financial burden athletes carry just to attend, not to mention win gold at the Olympics from sponsorships on Wheaties boxes to gold medals being an Olympic athlete is big business, but the majority of athletes don't achieve well from their talents. The financial cost associated with being an Olympic athlete can be high and the payoff extremely varied. In April 2024 world athletics, the umbrella organization for global track and field events made *** pivotal announcement, track and field, gold medalists regardless of their country will receive equal pay about $50,000 for individual athletes. Relay teams will split the winnings since Olympians and niche events only get the spotlight briefly during the week's long games. It can cast *** heavy financial burden in the off season. Not to mention winnings vary wildly depending on the country at the 2020 Summer Olympics in Tokyo US gold medalists received 37,500 silver, received 22,500 bronze. 15,000 plus health care. By comparison, Singapore offered its gold medalists *** staggering 1 million Singapore dollars, which is equivalent to $734,890. Indonesia reportedly gave its winning athletes six figure payouts too. During the 2016 Rio Olympics, gold medalist from Indonesia won $346,000 plus *** lifetime annual stipend. These monetary changes reflect an uphill battle for athletes to financially support themselves while competing for their country. The issue of Olympic athlete pay has evolved over the recent decades. The ethos of the Olympics previously centered around amateurism rather than playing for money, giving an advantage to upper class athletes who typically had the time and resources to train and participate in the games. It wouldn't be until the 19 eighties when the US was losing badly in basketball that pro US athletes could finally participate, resulting in the iconic dream team of 1992 and redeemed team of 2008. Removing the amateurism requirement was *** landmark decision that literally altered history. In 1982 the IOC reinstated the late Jim Thorpe as *** co winner for the 1912 Olympic Decathlon and Pentathlon after disqualifying him for playing professional sports prior to the games, the IOC just in 2022 further declared him the sole champion of those events The reins station also meant that Thorpe became the first indigenous Olympic gold medalist for the United States. Although the World athletics prize money only extends to gold medal winners. The world athletics is hopeful that it will soon be expanded to silver and bronze too.
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How much should Olympic athletes be paid?

For the upcoming 2024 summer Olympic Games in Paris, World Athletics' historic announcement regarding prize money for track and field athletes.
By Mary Anderson
Although for some Paris 2024 summer Olympic athletes winning gold is the goal, there’s another underlying competition that they face long before the Games – mounting costs.For athletes who lack major sponsorships or financial resources, accrued fees can spell the end of a career and a way to support themselves, especially if they’ve had to focus solely on perfecting their skills for years. Thankfully, top sports federations are taking note. Most recently, the global track and field organization, World Athletics, announced it would issue $50,000 USD to individual gold medalists regardless of country for the 2024 Summer Games in Paris (and for relay teams, the $50,000 winnings will be divided evenly). The WA also hopes to make similar announcements for silver and bronze medalists at future Olympic Games.The WA’s announcement is historic since an athlete’s prize package has been at the mercy of their country’s resources.In past games, Singapore has offered $700,000 USD for athletes who bring home the gold, while Italy has awarded $214,000 USD.At the Tokyo Olympics, U.S. athletes who made it to the podium received healthcare, plus $15,000 for bronze, $22,500 for silver, and $37,500 for gold.The WA’s announcement continues the ongoing, larger discourse regarding the Olympic ethos of "amateur versus professional" athletic participation.At the turn of the century, Victorian and Edwardian-era gentlemen argued that the Olympics was for amateur athletes who purely loved sport, not for financial gain.However, by limiting participation to the amateurs, who were typically living lives of leisure, it also prevented working class athletes from getting a fair shot.Plus, for athletes who violated those rules, the reputational costs were high. Many athletes were penalized and even stripped of their Olympic medals for playing professionally.After facing intense public scrutiny and major losses in basketball in the 1980s, the U.S. finally removed its amateur-centric policy for Olympic athletes. These debates are vital in not just helping today’s athletes have a better quality of life, but can also celebrate Olympians of the past.In 2022, Jim Thorpe was retroactively announced as the sole winner of the 1912 decathlon and pentathlon, after being wrongfully stripped of his gold medal for playing professionally prior to the games. Correcting historical wrongs serves a purpose far beyond posthumous titles.After reinstating his win, Thorpe became the first Indigenous Olympic gold medalist for the U.S., as a member of the Sac and Fox Nation and a Potawatomi citizen.

Although for some Paris 2024 summer Olympic athletes winning gold is the goal, there’s another underlying competition that they face long before the Games – mounting costs.

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For athletes who lack major sponsorships or financial resources, accrued fees can spell the end of a career and a way to support themselves, especially if they’ve had to focus solely on perfecting their skills for years.

Thankfully, top sports federations are taking note. Most recently, the global track and field organization, World Athletics, announced it would issue $50,000 USD to individual gold medalists regardless of country for the 2024 Summer Games in Paris (and for relay teams, the $50,000 winnings will be divided evenly). The WA also hopes to make similar announcements for silver and bronze medalists at future Olympic Games.

The WA’s announcement is historic since an athlete’s prize package has been at the mercy of their country’s resources.

In past games, Singapore has offered $700,000 USD for athletes who bring home the gold, while Italy has awarded $214,000 USD.

At the Tokyo Olympics, U.S. athletes who made it to the podium received healthcare, plus $15,000 for bronze, $22,500 for silver, and $37,500 for gold.

The WA’s announcement continues the ongoing, larger discourse regarding the Olympic ethos of "amateur versus professional" athletic participation.

At the turn of the century, Victorian and Edwardian-era gentlemen argued that the Olympics was for amateur athletes who purely loved sport, not for financial gain.

However, by limiting participation to the amateurs, who were typically living lives of leisure, it also prevented working class athletes from getting a fair shot.

Plus, for athletes who violated those rules, the reputational costs were high. Many athletes were penalized and even stripped of their Olympic medals for playing professionally.

After facing intense public scrutiny and major losses in basketball in the 1980s, the U.S. finally removed its amateur-centric policy for Olympic athletes.

These debates are vital in not just helping today’s athletes have a better quality of life, but can also celebrate Olympians of the past.

In 2022, Jim Thorpe was retroactively announced as the sole winner of the 1912 decathlon and pentathlon, after being wrongfully stripped of his gold medal for playing professionally prior to the games.

Correcting historical wrongs serves a purpose far beyond posthumous titles.

After reinstating his win, Thorpe became the first Indigenous Olympic gold medalist for the U.S., as a member of the Sac and Fox Nation and a Potawatomi citizen.