- Italy pays its athletes more than any other country for their performances in Beijing.
- He gives his gold medalists $201,000 and his silver medalists $101,000.
- In total, the country is expected to pay $2.7 million in prize money.
Winning an Olympic gold medal for your country is usually a pretty big prize on its own for any athlete.
But in Italy, those who won gold at the Beijing Winter Olympics also received an additional cash prize for their victories worth more than $200,000.
That’s according to Forbes, which reports that the European delegation awards its athletes a total of $2.7 million for their performances at the games, which is more money than any other country on earth.
According to CNBC, the amount is even higher at $213,000 per gold medal athlete.
Italy won a total of 17 medals in Beijing – two gold, seven silver and eight bronze. The country’s two gold medals came from speed skater Arianna Fontana and mixed curling duo Stefania Constantini and Amos Mosander.
Those who won silver medals will receive $101,000 from the country’s Olympic committee, Forbes reports, while those who won bronze medals will each pocket $67,000. CNBC’s estimates are $107,000 and $67,000, respectively.
Athletes in team sports will receive the same bonuses as those in individual sports. For example, the six Italian short track speed skaters who won silver in the mixed 2,000-meter relay will collectively earn $604,000, according to Forbes estimates.
Athletes who have won multiple medals will also receive payments for each medal, such as snowboarder Omar Visintin who will receive $168,000 for his silver and bronze medals.
Italy’s offers for its Winter Olympians are extremely generous compared to a number of other countries.
The United States, for example, pays its Beijing gold medalists just $37,500 each, while Germany, which won the second-most medals at the Games with 27, pays just $22,000. dollars to athletes who have won gold.
According to Forbes, 11 other delegations offer six-figure payouts for a single gold – Hong Kong, Turkey, Malaysia, Cyprus, Latvia, Hungary, Bulgaria, Lithuania, Kosovo, Estonia and the Czech Republic.
These 11 nations, however, have only won seven medals between them at the games.
However, the prize money Italy offers its gold medalists in Beijing pales in comparison to the prize money Singapore offered its medalists at the 2020 Tokyo Olympics.
According to CNBC, Singapore was prepared to pay the gold medalists $737,000, the silver medalists $369,000 and the bronze medalists $184,000, but unfortunately for its athletes – but fortunately for the bank balance of its Olympic association. – the nation did not win a single medal.