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U.S. Olympic and Paralympic athletes can now earn $100,000 (Rs. 88 lakh) each time they play at the Games, thanks to a $100 million donation to the USOPF.
The USA has taken a huge step towards financial stability of its Olympics and Paralympics atheletes.
(PC: AP)
The United States of America (USA) has taken a major step towards all but guaranteeing financial freedom to its Olympians and Paralympians. Starting this year, every athlete competing for Olympic glory will have the opportunity to earn $100,000 (Rs. 88.47 lakh).
Thanks to a recent record $100 million donation to the U.S. Olympic and Paralympic Foundation (USOPF), athletes who qualify for the U.S. Olympic or Paralympic teams starting next year in Milan-Cortina will be eligible to receive nearly Rs. 90 lakh each as a reward upon their retirement. The staggering donation came from Ross Stevens, the founder and CEO of Stone Ridge Holdings Group, a finance firm.
It was the largest single donation to the USOPF, which began operations in 2013 and could be life-changing for hundreds. The U.S. government does not fund its Olympic athletes, and many live in or near poverty.
“At the age of 25, 26, I definitely was like: ‘I can’t do this to (my family) anymore. I can’t continue living in my car. I have student loans. I have to get on with my life,’” biathlete Deedra Irwin, who is now 33 and has made ends meet by everything from dog sitting to joining the Vermont National Guard, told Associated Press.
So far, athletes have taken motivation from promises of sponsorships, speaking engagements, and talk-show appearances that result from inspiring performances, but faced mostly obscurity beyond the Games’ roster.
“As an athlete, you don’t put into a 401K,” Paralympian Oksana Masters said. “We don’t have those traditional jobs of paying into that kind of stuff. It’s about time that we’ve done this.”
Only a small portion of the approximately 225 Olympic and 65 Paralympic spots on Team USA in Italy have been secured. The majority of those spots will be earned based on athletes’ performances in upcoming World Cup events held around the globe over the next few months.
The money will be distributed in four payments and will not be deposited into bank accounts until 20 years after the athletes retire, or when they reach 45, whichever comes later. The grant also includes funding for a $100,000 life insurance policy for a beneficiary.
Moreover, remarkably, both the award and the insurance are accrued each time an athlete makes the Olympics. If someone qualifies three times, they would receive $600,000 (Rs. 5.3 crore) in total benefits.
October 30, 2025, 11:15 IST
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