2024 Summer Paris Olympics – Team USA Big-Time Bonuses Revealed

Some people may not have considered whether or not Olympic athletes are compensated for their hard work or performances on the world stage. Should Olympic athletes be compensated if they win or lose? Sebastian Coe, World Athletic President answered that very question during a recent interview with CNBC.

He said that athletes deserve a share of the income they generate for the organization. That is only fair. Right? Some may not agree, however, Coe told CNBC, "Athletes are, in essence, the bearers of the revenues that we get," The former track and field Olympian said. "Their performances at an Olympic Games, in our own World Championships, provide world athletics with broadcast revenue from the International Olympic Committee and at a world championship level."

WHAT DO ATHLETES MAKE FOR PARTICIPATING IN THE OLYMPIC GAMES?

First, it's important to note that not all Olympic athletes are compensated whether they win a medal or come up short. The International Olympic Committee doesn't give Olympians prize money for earning medals. The origin and type of rewards vary from country to country. Athlete Lifestyle reports, prizes can also come from individual governments and private sponsors.

Olympic athletes have been compensated with everything from property, cars, and cash to bizarre gifts like livestock or, coupons for a colonoscopy! In April,  World Athletics announced it would award each 2024 Summer Paris Olympic track and field gold medalists a $50,000 cash prize and relay teams the same cash prize to be divided among the team.

The Associated Press reports France awarded its Olympic medalists with the following cash prizes:

• Gold Medalist - $85,000
• Silver Medalists - $43,000
• Bronze medalists - $22,000

HOW MUCH MONEY DID TEAM USA ATHLETES RECEIVE FOR PARTICIPATING IN THE 2024 PARIS SUMMER OLYMPICS?

According to CNBC, the U.S. Olympic and Paralympic Committee runs a program called "Project Gold." This year Team USA athletes were awarded a cash prize for earning a medal:

• Gold Medalist - $37,500
• Silver Medalist - $22,500
• Bronze Medalist - $15,000

These one-time cash prizes/bonuses make a huge difference in an Olympian's life, they come nowhere close to the average salary or paycheck of pro-American athletes who played in this year's Olympic Games. Other than the cash awards, Olympic athletes do not get a salary.

Stephen Curry is a multi-millionaire and Lebron James is nearly a billionaire. Though NBA stars like James and Curry brought the gold home from the Paris Games, they didn't get a cash prize for their gold medals. The NBA athletes who competed for Team USA only received a stipend and per diem budget.

It's not all bad news for Olympic athletes, because they can make a killing with endorsements. A prime example of that is Simone Biles, and she is capitalizing on her success earning seven figures from endorsement deals alone! So, there are some nice perks beyond the games.