The International Olympic Committee has announced a new grant scheme that will provide US$10,000 (approximately $17,000) to every athlete competing at the Olympic Games.
The total grant pool amounts to $248 million and is designed to support athletes' long-term sporting careers or career transitions. Athletes who breach anti-doping regulations, the IOC code of ethics, or the Olympic charter will be ineligible for the payment.
Dame Valerie Adams, chair of the World Athletics Athletes' Commission, welcomed the scheme as progress. "It's a start. Obviously more can be done, but in this instance, we've got to take what we've got right now and hope for something more, as most athletes would obviously want," she said.
Adams noted the IOC generates billions in commercial revenue from the Olympics and states it redistributes 90% of income to wider sporting movements, though she suggested funding distribution could improve.
"Being a professional athlete sounds exotic and amazing and makes you sound rich almost. But that is not the same for all athletes, obviously depending on the sport they're involved in. Track and field ain't one of them, let me tell you that much," Adams said. "For the majority of the athletes it's going to make a huge difference."
Adams described the tension athletes face between pursuing Olympic success and financial security, with performance expectations from their sport and country determining funding levels.