Olympic Games summer season is back again, giving the athletes, worldwide, an opportunity to cash their talent, which is huge enough to bring them fame, popularity and a holy revenue with it. As a true follower of the Olympic Games, people are often curious to know about the prize money that is offered to these Athletes for their phenomenal performances on a universal platform, representing their countries and striving really hard to contribute in their Nation’s success.
The True Worth of Medals- Olympics 2012
Apparently, the most visible reward that is handed over to the winning contestants is the medals. The contestants are fortunate enough to be a part of London Olympics 2012, as it’s this year that the medals are twice the size as of the medals that were awarded in Beijing in last season. It’s obvious that the winners of these medals hardly care about its worth because, for them they are priceless, that is, a medal given to them for being the best in the world, literally.
However, in terms of investment analysis of London Olympics 2012, the Gold medals worth about $645, where the medal consists of 92.5% of silver, with 6.16 % of copper, having only 1% of gold in it.
Silver medals that are handed over to the second runner-up, constitutes around same amount of silver, Gold being replace with more amount of cupper. The net worth is approximately $330.
Similarly, the bronze medal is made of 97 % of copper, 2.5 of zinc and 0.5% of tin, making a net worth around $4.70.
What More Besides The Medal?
The international Olympics Committee has no policy of awarding prize money to the winners apart from the medals but these contestants are given several other incentives, also earning gift hampers and performance bonuses from the sponsors. It depends upon sponsors who might also sign these medal winners for the commercials, paying them in Millions for a single shoot.
As mentioned above, there is no declared prize money offered by the International Olympics Committee, however, every country has its own Olympics Committee, and these National committees offer considerable rewards in cash to the athletes who bring Gold in their disciplines for their nation.
Now these national incentives differ from country to country, depending upon their budget and the policies.
Malaysia seems really enthusiastic this time in terms of supporting and encouraging its representatives in the Olympics. The country has offered Wei Chong Lee about £400,000, for his exceptional performance in Olympics Badminton
Russia is keen to encourage its representatives by offering a huge reward. Lately, it was announced that Russian judo-ka Arsen Galstyan would be rewarded with £85,000 along with additional bonuses after he won his Gold Medal, while a gold medalist from Russia’s remote Chelyabinsk region, meanwhile, will walk away with a £600,000 reward.
We have been noticing since a long time how Indian government has supported its players when it comes to sports, becoming one of the major factors helping the Indian Cricket team to win World Cup 2012. Whether it was IPL, or London Olympics, The Indian Government supported all its representatives. According to the latest reveals, the country’s Sports Minister, Ajay Maken has said that the Indian Winners in Olympics would be offered coaching jobs with a good tariff.
How can we forget Italy here, It offers £116,000 for a gold to the winning representatives.
In Short all the countries have some incentives to offer to the winning contestants except Britain which believes that the victory is itself an enough reward that is above than the prize money been given to the winners.
We wish all the very best to all the Nations and the contestants who are trying very hard to make up this time.
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All the Best,