How is sports financing organized in other countries? Are there also huge cash payments to the winners of the Olympics?

How is sports financing organized in other countries? Are there also huge cash payments to the winners of the Olympics?

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Answer 1
June, 2021

In developed countries, huge cash payments to the winners of the Olympics are not practiced. Olympians prepare themselves or with the help of sponsors, they can receive a maximum scholarship. I personally know several participants in the US Olympic boxing teams, all of them during the preparation for the Olympic Games either studied (really studied, not like our athletes "learn"), or worked. Basically, they all participated in the Olympic Games at a very young age - 18-19 years old, maximum 22-23 years old, lived during the preparation with their parents.

For the Olympic "gold" in the USA they pay $ 37,500, in Germany - 22 thousand, in France - 55 thousand, in Italy - 166 thousand. Of the developed countries, they really pay a lot only in Singapore - a million dollars for "gold" (but they have only one gold medal in the history of the Olympic Games, so they certainly won't go broke on this). In the UK, they do not pay specifically for a medal, but if an OI medalist decides to continue his sports career, he can apply for a scholarship until the next Olympics (the amounts are different, but not exorbitant - at the level of a small salary, like a salesman or a janitor). Bonuses in the form of apartments, cars, etc. are not practiced there.

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