Tokyo Summer Olympics 2021 Prize Money

Tokyo Summer Olympics 2020 is an upcoming international multi-sport event which was due to be held from 24 July to 9 August 2020 but for the COVID-19 pandemic, the event was rescheduled, rather than canceled. It is the first time in the history of the Olympics that the event was rescheduled. Though the event is going to take place from Friday, 23 July to Sunday, 8 August 2021, the name of the event will remain the same for marketing and branding purposes.

Olympics Prize MoneyAthletes from around 200 countries will be fighting full-on for the glorious medals in Tokyo Summer Olympics 2020. The 2020 Games will mark the second time that Japan and specifically Tokyo has hosted the Summer Olympics games making it the first city in Asia to host the Summer Olympics twice. The 2020 Games will also be the second of three consecutive Olympics to be held in East Asia. The 2020 Games will see the introduction of new competitions including 3×3 basketball, freestyle BMX, and madison cycling, as well as further mixed events.

The athletes don’t receive any cash money from the Olympics committee only medals but they get paid by their national Olympic Federation which is disclosed before the tournament. The cash prize is awarded to athletes are different depending on the country. So the athletes receive the same medals but don’t get the same cash prizes. Three medals are given throughout the tournament GOLD, Silver and Bronze. The value of the medals are given below :

  • Gold: $600 (The gold medal consist of just 1% of actual gold, 92.5% silver and 6.16% copper).
  • Silver: $325 (While in silver medal, the gold is replaced by more copper rest material is the same as a gold medal)
  • Bronze: $3 (Bronze medal however is 97% copper and 2.5% zinc and 0.5% tin)

The list above is the actual worth of raw material used in the medals. In reality, the medals don’t carry a great money value but the prestige is worth it. If athletes were to sell or auction their medals they will bag a big amount just for the face value of the medal.

Only a handful of countries ward cash prized to silver and bronze medalists while most federations only award prized for gold winners.  Most of the countries award round-sum payments but some countries don’t. A list is given below about cash rewards paid by different national Olympic federation :

Cash Rewards Paid by Different National Olympic federation

Singapore S$1 million (US $757,000) $370,000 $189,000
Malaysia A solid gold bar worth (around $600,000) $300,000 $150,000
Azerbaijan $510,000 (shared by athlete and coach if any) $255,000 $130,000
Kazakhstan $250,000 $150,000 $75,000
Thailand $314,000 (over 20 years period)
Philippines $237,000 (over 20 years period)
Kyrgyzstan $200,000
Latvia $190,000
Italy $189,800 $95,000 $50,000
Uzbekistan $150,000
Belarus $150,000
Ukraine $150,000
Russia $180,000 $90,000 $45,000
Australia $126,000
Tajikistan $63,000
France $65,000
China $31,400
USA $25,000
Germany $19,500
India RS 1 Crore ($150,000) $80,000 $45,000
Brazil Around $11,000 for every medal regardless of the color of medal (every member of the Football team will get $100,000 for winning gold)
Sweden No cash prized for winning medals (Sweden Olympics committe supports athletes from 6 year old to all the way professional levels)
United Kingdom no cash prized awarded by Britain’s Olympic Committee
OTHER COUNTRIES Almost all the countries award cash prized to medalist in some form

Only a handful of countries award cash prizes to silver and bronze medalists while most federations only award prizes for gold winners.

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