Olympics Offers $10,000 Grants to All Competitors

The International Olympic Committee (IOC) announced on June 24, 2026, that it will provide a $10,000 (approximately 8,800 euros) grant to every athlete participating in the Olympic Games. The initiative is a response to mounting pressure for the inclusion of prize money for Olympians. The total funding for this program will amount to $140 million over each four-year Olympic cycle.

Pau Gasol, chair of the Athletes’ Commission and former basketball star, stated that the grant is accessible to all Olympians regardless of their performance or origin, emphasizing the importance of representing one’s sport and country. “All Olympians, no matter where they’re from, doesn’t matter where they finish,” he affirmed at a press conference during the IOC Session in Lausanne.

Gasol differentiated the grant from traditional prize money, referring to it as an acknowledgment of the significance of being an Olympian. As per IOC guidelines, athletes who participated in the Milan-Cortina Winter Games in 2026 will be eligible to apply for the fund once the application process is established.

Despite the IOC's current move towards athlete compensation, President Kirsty Coventry has been opposed to awarding prize money directly, maintaining that the grants will not impact the distribution of IOC revenues to National Olympic Committees and international sports federations. Coventry's resistance to monetary rewards for athletes has drawn criticism from former competitors, including South African swimmer Roland Schoeman, who initiated a petition for the resignation of Coventry and the executive board due to their stance against athlete compensation.

Traditionally, the Olympics had strict amateur requirements for athletes, which have been removed in recent years, yet the IOC has been slow in adopting monetary rewards. Comparatively, World Athletics introduced prize money at the 2024 Paris Games, offering $50,000 to gold medal winners in track and field, showcasing a shift in financial recognition in the sporting realm.

This recent development by the IOC reflects a significant evolution in the way Olympic athletes are supported, recognizing their contributions and the commercial value they bring to the Games.