Olympics to give $10,000 grants to all competitors

The International Olympic Committee (IOC), facing increasing pressure to introduce prize money, announced on Wednesday that it will establish a grant for every athlete competing in the Games.

The IOC stated on its website: “Every athlete at the Olympic Games will be eligible for a new $10,000 (8,800 euros) ‘Fit for the Future Olympian Grant’.” It added that the total fund would amount to $140 million for each four‑year Olympic cycle.

Pau Gasol, chair of the Athletes’ Commission, said at a press conference during the IOC Session in Lausanne: “All Olympians, no matter where they’re from, don’t matter where they finish,” would be entitled to the grant.

Gasol, a former Spanish basketball star, added that the payment would be “acknowledging the importance and relevance of being an Olympian, participating and representing your sport and your country in the Games.”

He stressed, “It’s not prize money.”

The IOC said athletes who competed at the Milan‑Cortina Winter Games this year will be eligible to apply once the application process is established.

Although the Olympics have long since removed the amateur status requirement, the IOC has remained reluctant to compensate competitors.

IOC President Kirsty Coventry has consistently opposed such a suggestion.

On Wednesday, she said the grant money would not reduce the shares of IOC revenue allocated to National Olympic Committees or international sports federations.

Coventry’s opposition to prize money has provoked a hostile response from some former athletes.

South African swimmer Roland Schoeman, like Coventry, launched a petition demanding the resignation of the president and the entire executive board.

He wrote, “The IOC generates billions. That value comes from the athletes. It is time to demand accountability.”

World Athletics broke with tradition by introducing prize money at the 2024 Paris Games, awarding each gold‑medal winner in the 48 track and field events $50,000, with relay runners sharing the prize pot.

World Athletics president Sebastian Coe asked, “Does this undermine the amateur ethic?” at the time of the announcement.

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