Shocking Truth: How Much Do Olympic Athletes Really Get Paid?

WooGlobe

Are Olympic gold medals really worth their weight in gold? Find out how much athletes earn and what’s changing for the 2024 Paris Olympics.  The 2024 Paris Olympics are making headlines with new prize money! Learn how much athletes actually get paid and the controversy surrounding it.  Get the inside scoop on Olympic earnings: national funding, sponsorships, and the new prize money for 2024! What does this mean for athletes?  From amateur competition to lucrative prizes, discover how the landscape of Olympic earnings is changing for the 2024 Paris Olympics. Location: london WooGlobe Ref : WGA701517 For licensing and to use this video, please email licensing@wooglobe.com

Transcript

00:00Welcome to the 2024 Paris Olympics, where dreams are made, records are broken, and now

00:06where prize money is up for grabs.

00:08But how much do Olympic athletes really get paid?

00:11The answer might surprise you.

00:14From diving to cycling, tennis to breakdancing, athletes will compete across 32 different

00:19sports, all aiming for that prestigious gold medal.

00:23But did you know that the International Olympic Committee, IOC, doesn't pay athletes directly?

00:29That's right.

00:30No prize money from the IOC for winning those medals.

00:34The philosophy behind the Olympics is one of amateur competition, focusing solely on

00:39sporting successes rather than commercialism.

00:42So how do these athletes survive?

00:46Athletes often rely on funding from their national Olympic committees, sponsors, and

00:50endorsements.

00:51For example, Usain Bolt, the fastest man on Earth, earned $10 million a year from Puma

00:57even after his retirement.

00:59But not everyone is so lucky.

01:02In the UK, gold medalist Jack Laffer receives $28,000 in funding to keep his Olympic dreams

01:08alive.

01:09But what about prize money at the Olympics?

01:12Big changes are coming in 2024.

01:15For the first time ever, World Athletics will offer $50,000 to every gold medalist in athletics

01:21events.

01:22The International Boxing Association is also stepping up, offering $50,000 for golds, $25,000

01:29for silver, and $12,500 for bronze.

01:33However, not everyone is on board with these changes.

01:37The Association of Summer Olympic International Federations argues that putting a price on

01:42an Olympic gold medal undermines the values of Olympism and the uniqueness of the Games.

01:47So what do you think?

01:49Should Olympic athletes be rewarded with prize money, or should the focus remain on

01:53the spirit of competition?

Category

Transcript

Recommended