Olympic Games: International Olympic Committee Announces New Funding for Future Olympians

Each prospective Olympian can apply for a grant of $10,000 (£7,600) for each Games they compete in, the International Olympic Committee said.

The ‘Fit for the Future Olympic Grant’ has been established to support Olympic athletes in their sporting careers or career transitions.

A $140 million (£106.5m) fund is allocated to each Olympics, and athletes competing at this year’s Winter Olympics can apply for the first time.

About 14,000 Olympians per Games are expected to qualify for aid.

It is not available to an athlete who commits an anti-doping violation or violates the IOC Code of Conduct, Conditions of Participation or the Olympic Charter.

The support will be provided through existing National Olympic Committee (NOC) structures and will not be reduced by any support programs provided by the IOC to NOCs, International Sports Federations, Olympic Organizing Committees or Olympic Solidarity.

Some National Olympic Committees offer prize money, although the British Olympic Association is not one of them.

The new initiative is one of the first steps taken as part of the IOC’s ‘fit for the future’ framework to find new ways to support athletes.

Spain’s three-time basketball medalist Pau Gasol, chairman of the IOC Athletes’ Commission, said: “Every athlete’s journey is different, but every Olympian has made sacrifices to reach the Olympic stage – years of dedication, years of hard work, years of believing in dreams.”

“This is not prize money. This is recognition of the journey and commitment required to become an Olympian. And recognizing that every Olympian is part of our Olympic community, honoring those who came before us and paved the way for the benefit of current and future generations of Olympians.”

In Paris 2024 games became the world athletics The first international federation gave the Olympic prize Along with gold medalists, they received $50,000 (£38,000). It will expand to silver and bronze medals at Los Angeles 2028.

According to IOC President Kirsty Coventry She opposes Olympic prize money., External The organization “felt it needed to find more ways to directly impact athletes and help them on their journey.”

“This has been a topic of conversation for many years, and I’m very proud that we’re now able to do this,” she added on Wednesday.

The grant is awarded to athletes competing in the Olympics and not to athletes competing in the Youth Olympic Games.

The IOC aims to open the application process for the 2026 Olympians by the end of this year, with the first payment due in 2027.