The IOC will pay Olympic athletes for the first time. But is it enough?
The International Olympic Committee’s announcement that it will pay US$10,000 ($14,500) to every athlete competing in the Olympic Games is a significant development, marking a break with more than a century of history when participation was considered sufficient reward.
But Australian athletes weren’t exactly dancing in the streets after details of the ‘Future Olympic Scholarship’ were announced at the IOC meeting in Switzerland on Thursday.
“$6.80 a day for a four-year cycle. And that’s before taxes,” a prominent Olympic gold medalist, speaking on condition of anonymity, told this imprint. “But it’s a start and a win for the next generation.”
Another Olympic champion said: “Not believing that athletes should get paid is a big step forward. But there is still a long way to go in this modern age.”
Still, as Australia’s most decorated Olympian Emma McKeon noted on social media on Thursday, something is better than nothing.
“We are moving in the right direction,” McKeon wrote, accompanied by a clapping emoji.
IOC president Kirsty Coventry made the announcement after a month of harsh reactions to her comments that she “does not believe in paying athletes”; he later said these remarks were in reference to prize money rather than general athlete support.
Speaking at the IOC extraordinary session in Lausanne on Wednesday, Coventry said the financial sweetener had been on the way for some time for athletes who had effectively competed for nothing more than pride, patriotism and success since the opening of the modern Olympics in Athens in 1896.
“The reaction was a little frustrating,” Coventry said. “This isn’t just something that happened in the last few weeks.”
That being the case, it’s hard to understand why Coventry aren’t at least hinting that relief is on the way. These words infuriated the athletes.
The money goes directly into Olympians’ bank accounts, something many thought would not happen under the IOC’s watch.
NBA, tennis and football stars who earn millions of dollars a year will receive the same “thank you for coming” payment as athletes in minor sports in poor countries. However, some wealthy athletes may prefer to leave their money in the pot.
This is certainly an egalitarian policy consistent with the values of the Olympic movement.
But it also brings the Games closer to real prize money and rewards athletes who prove they are the best in the world in their disciplines; Australian swimmers Cam McEvoy and Kyle Chalmers have been in a row since Coventry sparked controversy with his comments.
In an Instagram post that went viral three weeks ago, McEvoy suggested a $10,000 entry fee, as well as prizes of $100,000, $60,000 and $25,000 for gold, silver and bronze medals.
“This would be around $180 million, only 1.5 percent of the IOC’s four-year revenue ($12 billion),” McEvoy wrote.
The new payment will be made to athletes through existing National Olympic Committee structures. Naturally, the total will expand much more in some parts of the world than in others.
Nearly 2,900 athletes competing at this year’s Winter Olympics in Milan-Cortina will receive bonuses, whether they come in first or last, while nearly 11,000 athletes will be in line for a payday after the Los Angeles Olympics in two years’ time.
But Australia’s Olympic athletes already receive funding through other means. The Australian Sports Commission has doled out hefty government grants, while the Australian Olympic Committee last year announced a $50 million Olympic Futures Fund, including a $32,000 retirement grant for athletes.
Australian Olympic athletes now receive $5000 for each Olympics they participate in.
AOC also has an athlete incentive funding program that offers performance-based support in Olympic and non-Olympic years. Athletes who finish first, second or third in world championship-equivalent events can receive $20,000, $15,000 and $10,000 respectively; In non-Olympic years, fourth-place athletes can also receive $5,000.
According to the AOC, $2.5 million was paid to Australian Olympians between the Tokyo and Paris Olympics, with a further $800,000 distributed in the current Olympic cycle (2026-28).
“The IOC’s announcement today will be a welcome announcement for athletes around the world,” said Anna Meares, Australia’s LA2028 mission chief. “It recognizes that Olympians are the heart of the Olympic Games and are at the forefront of decisions, which will ensure they not only feel valued but also recognized for their efforts and contribution. This will impact thousands of people moving forward and positively change lives beyond the podium.”
In some cases, prize money is already distributed by certain sports. Australian pole vaulter Nina Kennedy received a check for US$50,000 ($72,500) from World Athletics for winning gold at the Paris Olympics. World Athletics has now committed to awarding silver and bronze medal winners at LA2028.
The initiative was spearheaded by World Athletics president Sebastian Coe, who lost out to Coventry in last year’s IOC elections. He praised the latest news from the IOC on Wednesday, saying: “This is a historic moment for the movement and I’m absolutely delighted to be in the room when this was announced.”
The truth is that most Olympians do not train and compete for money. But their push for greater fiscal stimulus should not be misconstrued as greed.
“It’s always an honor and a privilege to represent the green and gold,” Olympic gold medalist Zac Stubblety-Cook said at the Speedo event earlier this month.
“I think we can seem a little bit spoiled about wanting more, and I think that’s the conversation that people need to realize: we want more, but we’re working hard for it.”
Teammate Sam Short agrees, saying: “I think if you’re an Olympic champion, you should be paid. I do it because I want to be an Olympic champion, but at the end of the day you have to make a living. Winning a gold medal should have some kind of prize money.”
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Tom Decent is chief sports writer for The Sydney Morning Herald.Connect with: X or email.
