MONEY IN EXCHANGE FOR PODIUM FINISHES AT OLYMPICS

Being able to stand on the podium at the Olympic Games is a big achievement. Bagging R400,000 in the process is an awesome financial boost.

That’s what most athletes in Team South Africa could take home if they win a gold medal at the Paris 2024 games.

Sascoc (South African Sports Confederation and Olympic Committee) said that there are 138 athletes (excluding reserves) competing for their country in the French capital. The athletes are divided across 19 codes.

The monetary incentives are divided by Sascoc into individuals, relay and team sports, and boats.

If an athlete wins gold, they get R400,000 and their coach will bag R100,000. Silver will mean R200,000 for them and R50,000 for their coach, while bronze will give an athlete a bonus of R75,000 and R25,000 for their coach.

Individual athletes have an even bigger bonus waiting for them at the finish line.

If a South African wins a gold medal at one of the individual athletics events, they could bag R1.3 million.

While it’s an awesome goal to work for, it’s nothing in comparison to what some of the other countries reward their athletes.

Athletes from Hong Kong will walk away with R3.5 million for bronze, R7.04 million for silver and R14.07 million for gold.

Even athletes who don’t end up on the podium will be financially rewarded. Athletes from Hong Kong who finish in fourth place get R1.7 million while those finishing in anything from fifth to eighth place will get a cash payout of R879,738.

Image credit: Cape Town ETC