Money For Gold Medal Olympics

Olympians 25 000 for gold 15 000 for silver and 10 000 for bronze medals in 2016 according to forbes.

Money for gold medal olympics.

Singapore s joseph schooling won his nation s first gold medal with victory in the 100m butterfly as michael phelps was denied a 23rd olympic title. There is a way out however. Olympic medal money varies by country but in the u s. Olympians for example earned 37 500 for each gold medal won this year.

The government then comes in and taxes those bonuses. Olympians for example will earn 37 500 for each gold medal they win this year 22 500 for each silver and 15 000 for each bronze. Athletes make 25k for gold 15k for silver and 10k for bronze plus millions in endorsements. Famously pitcher chan ho park won a gold in 1998 in the asian games allowing him to continue a career that saw him sign a five year contract for 65 million in 2002 which is slightly more than the.

In general you ll get more money if you choose to sell an olympic medal at auction rather than melting it down. An olympic medal is awarded to successful competitors at one of the olympic games there are three classes of medal. Today a gold medal tends to sell at auction for between 20 000 and 50 000 says jonathan scheier the consignment director of sports memorabilia at heritage auctions the world s largest auctioneer of sports collectables. South koreans who win a gold medal at the olympics or other international games earn a military service exemption.

Gold medal winners from the southeast asia nation receive 1 million usd silver 500 000 and bronze 250 000. Silver awarded to the runner up. Getty rio 2016 olympics in pictures. Many countries reward medalists with bonus money.

Gold awarded to the winner. And bronze awarded to the third place the granting of awards is laid out in detail in the olympic protocols. The endorsements however only come to the cream of the olympic crop with athletes like phenom michael phelps scoring the most medals ever and the most endorsement deal riches. Silver medals typically go for between 10 000 and.

The committee will reportedly pay u s. Gold medal winners from there only receive 15 000.