HomeEquality and DiversityThe Value Of Gold Medals At The Tokyo 2020 Olympic Games

The Value Of Gold Medals At The Tokyo 2020 Olympic Games

The Value Of Gold Medals At The Tokyo 2020 Olympic Games

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s the Tokyo 2020 Olympic Games passes the one-week mark and the Australian Olympic Team is on track to break its record of 17 gold medals set at the 2004 Athens Olympic Games, here’s how much Australia’s top athletes earn for Olympic gold.

With the Australian team currently on 14 gold medals, three silver medals and 14 bronze medals, in total, Australia’s Olympians have earned a collective $465,000 from medal prize money alone so far.

The National Olympic Committees (NOCs) released the figures indicating the Olympic medal bonuses for a number of Olympic countries, with the Australian Olympic Committee (AOC) ranking lower than a number of top competitors.

Australian Olympians earn $20,000 for gold medals, $15,000 for silver, and $10,000 for bronze.

Compared to the US, who currently sits in second place on the Tokyo 2020 medal table with 20 gold medals, but 59 total medals, US Olympians earn $51,000 for gold, $30,000 for silver, and $20,000 for bronze.

At the top of the ladder for Olympic medal prize money is Singapore, who provides athletes with $998,000 for gold, $500,000 for silver, and $249,000 for bronze.

The Olympic athletes from Great Britain, however, do not receive prize money for winning an Olympic medal.

Despite the immediate prize money on offer for athletes from their respective NOCs for winning an Olympic medal, athletes who win an Olympic medal can hope to earn much larger figures in the commercial partnership industry.

After US gymnast, Sunisa Lee won gold in the women’s all-around, sports marketing agency MELT CEO and founder, Vince Thompson, said Lee may now be worth $1 million.

“She’s a million dollar baby,” Thompson said.

“She’s out of central casting.

“If you look at the setup of the story, the greatest of all time (referring to Simone Biles) bows out and she steps in, wins the gold, gives hopes and dreams to every little girl in America, she represents hope and aspiration, and that’s massively valuable.

“She is the holy grail of consumers, the target for nearly every marketer in America.

“It’s a dream scenario.

“[She is] now the new America’s sweetheart.

“How do you put a price tag on that,” he said.

With recently announced name, image, and likeness (NIL) rules introduced in the US college system, athletes are now allowed to monetise their personal brand, something that has typically restricted Olympic athletes attending a US college from earning money from brand endorsements.

Lee had announced her commitment to attend Auburn University following the Tokyo 2020 Games and will reportedly commence her college career with social media endorsement deals totalling the $1 million mark.

Outside of Olympic medal prize money and outside endorsement deals for individual athletes, the other main way Olympians earn money is through stipends or training grants delivered by their respective NOCs.

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