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How much should the U.S. award its gold medal winners? (1 Viewer)

Money, money, money

  • $11k like the host nation Brazil gives

    Votes: 1 2.0%
  • $25k like they do now

    Votes: 11 21.6%
  • $60k like the Russians pay

    Votes: 10 19.6%
  • Give them a pension like Malaysia does

    Votes: 4 7.8%
  • 0, they should not be paid

    Votes: 23 45.1%
  • Other amount, list in thread

    Votes: 2 3.9%

  • Total voters
    51

Doctor Detroit

Please remove your headgear
RIO DE JANEIRO (AP) — Singapore swimmer Joseph Schooling left Rio de Janeiro known as the man who defeated Michael Phelps. And as a millionaire.

In addition to winning the gold medal after beating Phelps with an Olympic record in the 100 meter butterfly, the 21-year-old Schooling also took home a reward of 1 million Singaporean dollars (about US $750,000) from his national Olympic committee.

Singapore was among the many countries offering hefty cash prizes to their medalists at the Rio Games, a practice that has become more common as nations continue to give greater importance to the final medal count.

Few pay nearly as much as Singapore, but almost every country has been awarding at least some sort of prize money to medal winners in an attempt to improve their position in the medal table. The bonuses usually come through the national committees, sponsors or national governments. Some also give out non-cash prizes such as cars and apartments.

Twenty percent of Schooling's prize will go to the local swimming association for "future training and development," Singapore's national committee said. Schooling's gold was the first ever for Singapore at the Olympics.

Phelps returned home with more gold than Schooling, but less money. The American great earned $25,000 for each of his five gold medals and $15,000 for the silver, earning $140,000 from the U.S. Olympic Committee.

By the end of Friday, the USOC had spent about $1.8 million in prizes after 105 medals were won by its athletes.

Britain, second in the medal standings, did not award any prize money to its medalists.

Italy was ninth in the medal count by Friday, but with the equivalent of nearly $170,000 awarded to each gold medalist in Rio, it had already spent about $2.6 million in prizes with 25 medal winners. The amount paid for each medal was the same even for athletes in team sports.

Other top payers at the Olympics included Azerbaijan, Kazakhstan and Malaysia, each disbursing about $250,000 for gold medalists. Kazakhstan also gave out prizes to athletes finishing up to sixth place, while Malaysia awards a lifelong monthly pension that can reach about $1,200.

"Of course the money helps," said Patimat Abakarova, who won a bronze for Azerbaijan in Taekwondo and took home more than $60,000. "But any athlete will tell you that this is not why we are here. We don't think about the money, that's not why we compete in the Olympics."

Azerbaijan also gives its coaches half of the amount awarded to the medalists.

Russia's federal government is giving out about $60,000 for gold, and this time there is no word on whether it will also award luxury cars to all of its medalists, as it did at the Sochi Winter Games.

Host Brazil is paying roughly $11,000 for its medalists, regardless of the color of the medal. The winners in team sports earn half of that amount. The Brazilian soccer federation reportedly is also expected to hand out $100,000 to Neymar and all of his teammates if they help Brazil win the soccer gold medal for the first time, although it doesn't officially confirm or deny the bonus amount.

Sweden is among the few countries that don't reward athletes with money if their athletes win. The Swedish national committee said there was no medal bonus because "we spend all our commercial money on preparation for the athletes, which means that we usually support them for six to eight years to reach world class."

Some countries apparently didn't give any support at all.

The national committee of the South Pacific islands of Vanuatu, which competed with four athletes, said the local government "did not give even a cent to help our team participate in Rio 2016."
It has been proposed and there was a bill sent to Congress to make all medal winnings tax exempt. 
 
I don't think tax exemption is the way to go.  If you win a raffle, lottery or prizes on a game show you still pay taxes on the income.  Olympic athletes getting a cash award for being a medal winner is no different imo. 

 
It is a lot different than people that luck into a prizes IMO. I think it should be taxed like regular income. As far as what they are paid, I really don't care. The Olympic committee should pay what they can afford. If they decided 25K is the rate, who am I to disagree? 

 
It is a lot different than people that luck into a prizes IMO. I think it should be taxed like regular income. As far as what they are paid, I really don't care. The Olympic committee should pay what they can afford. If they decided 25K is the rate, who am I to disagree? 
Superbowl winners(and losers) pay tax on playoff income.

 
FWIW, The US Olpmpic committee does not receive funds from the government. They are like many other businesses. 

 
I like the Swedish model.... spend the money by investing in them while training.  No money for a medal.  But let them pick up any sponsorships they can along the way. 

 
100k. Some of these lesser athletes make almost nothing over the years to earn these medals. And as pointless as it largely is, it is a huge source of national pride. People everywhere who don't watch a lick of sports are talking about the games and are prideful of them. 

 
I like the Swedish model.... spend the money by investing in them while training.  No money for a medal.  But let them pick up any sponsorships they can along the way. 
That also sounds good. I was shocked the USOC doesn't pay them as they go along. 

 
I can't believe Malaysia gives the goldies a lifetime pension.  So far no one has gotten one but four athletes have silver.  Wonder what they get?  If you were like .05 seconds from a lifetime pension that would hurt.  lol

 
The cost it takes to get kids to that level is astonishing and is usually paid by the parents.  I have a couple of cousins who are terrific competing skiers.  But to get to the Olympic level would easily cost six figures.   

 
I can't believe Malaysia gives the goldies a lifetime pension.  So far no one has gotten one but four athletes have silver.  Wonder what they get?  If you were like .05 seconds from a lifetime pension that would hurt.  lol
That would crush you every time you made a bank deposit. 

 
Seems to me like the top athletes are all able to endorse products - I'm sure that isn't pro bono work on their part.

 
NBC pays something like $1.7 billion for broadcast rights per Olympics.  I think the USOC and IOC could find a way to pay these guys.

 
I don't think tax exemption is the way to go.  If you win a raffle, lottery or prizes on a game show you still pay taxes on the income.  Olympic athletes getting a cash award for being a medal winner is no different imo. 
Increasing America's esteem is worthy of a tax exemption IMO.

 
It is an international athletic exhibition.  The govt should pay nothing.  The IOC should work sponsorship and TV deals and then work out the pay with the athletes.  

 
I'm such an idiot, I had no idea medalist were paid at all. 

Gold gets 25,000, what about silver and bronze? 

Also, how are athletes paid at events like the World Championships? Does the IAAF pay them? 

 
$50k sounds fair to me. The popular Olympians receive sponsorships, the hot ones prob marry money. 

It's the ugos in the unpopular sports that should be taken care of IMO.

 
cstu said:
Increasing America's esteem is worthy of a tax exemption IMO.
Soldiers get taxed except for when they are deployed.  I'd argue that they do a lot more than increase our self esteem.    I'm all for the Olympic athletes getting paid and getting sponsored--but they should pay taxes just like everybody else.  

 
Gachi said:
I'm such an idiot, I had no idea medalist were paid at all. 

Gold gets 25,000, what about silver and bronze? 

Also, how are athletes paid at events like the World Championships? Does the IAAF pay them? 
Pretty sure some countries pay Bronze and Silver medalists, but the US does not.

 
Nugget said:
It is an international athletic exhibition.  The govt should pay nothing.  The IOC should work sponsorship and TV deals and then work out the pay with the athletes.  
This.  They should get paid....just not from the govt.

 
More. I dont know what the answer is. But more. And tax free. Often (at least initially) these are young people who have sacrificed years of their lives without financial compensation. 

 
More. I dont know what the answer is. But more. And tax free. Often (at least initially) these are young people who have sacrificed years of their lives without financial compensation. 
I would characterize their actions as devoting themselves to something they love rather than as having sacrificed years of their lives.  

 
For their country. And then what happens to them?  How much does the Olympic committee make from tv, products, ads, etc?
They sacrifice years for the hope of being on the team. Kids all across the country do that with no intentions of being an Olympian. 

We have no idea of how the finances look for the Olympic committee. Not sure how we can suggest a payment without all of the info....of course, we seem to make judgments without all of the information regularly in the country. 

 
For their country. And then what happens to them?  How much does the Olympic committee make from tv, products, ads, etc?
Umm, as your average American taxpayer, I don't think my taxes should go fund their Olympic dreams/aspirations.

Let them try to get money from the Olympic committee....not the US govt.

 
Last edited by a moderator:
Umm, as your average American taxpayer, I don't think my taxes should go fund their Olympic dreams/aspirations.

Let them try to get money from the Olympic committee....not the US govt.
This.   Reading through this thread--I've read how people even want to make Olympic athletes exempt from taxes--which I don't agree with.   If soldiers, first responders, firefighters all have to pay taxes--why shouldn't an Olympic athlete have to?    I'm all for them getting paid through the Olympic committee, through sponsorships, through appearance and speaking fees--but I don't think that the government should use tax dollars to pay them.   If the government wants to fund Olympic dreams and aspirations--they could use that money to create facilities where kids can learn or train to be future Olympians rather than actually paying the Olympians.  

 

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