Olympics is the world’s biggest international multi-sport event that is conducted every four years. Officially known as the “Games of the XXXI Olympiad” and popularly known as “Rio 2016”, the 2016 Summer Olympics takes place in Rio de Janeiro (Brazil). More than 10,500 athletes will compete for the prestigious medals that are up for grabs from August 5 to 21.
The games features 28 sports including Archery, Fencing, Diving, Table Tennis, Golf, and Rugby Sevens. 33 venues across 4 regions of the city were allocated especially for these sporting events. The dedication of the Rio 2016 Organising Committee expands beyond venues allocation as they aim to “deliver excellent Games, with memorable celebrations that will promote the global image of Brazil, underpinned by social and urban sustainable transformation through sport, contributing to the growth of the Olympic and Paralympic Movements.”
Olympic athletes who are able to bring home the bacon can reap the sweetest rewards of their victory. By sweetest rewards, I pertain to the cash payouts. The money that Olympic athletes receive for each type of medal varies by country.
You may be surprised to know that most Southeast Asian countries including Singapore are pretty generous when it comes to winning this global distinction. For instance, Feng Tainwei’s Olympic bronze medal in 2012 (Women’s Single – Table Tennis) earned her a quarter of a million dollars.
Image Credits: www.facebook.com/fengtianwei
This amount is in accordance with the Multi-Million Dollar Awards Programme (MAP). MAP is an incentive scheme set by Singapore National Olympic Council in 1990s. In the recent years, MAP provides monetary payout to the winning Singaporean athletes of the Olympic, Asian, Commonwealth, and Southeast Asian (SEA) Games.
According to the MAP 2012-2015, here were the payouts given to the successful Olympic athletes:
INDIVIDUAL MEDALS
GOLD: S$1,000,000
SILVER: S$500,000
BRONZE: S$250,000
TEAM EVENT MEDALS
GOLD: S$1,500,000
SILVER: S$750,000
BRONZE: S$375,000
TEAM SPORT MEDALS
GOLD: S$2,000,000
SILVER: S$1,000,000
BRONZE: S$500,000
Image Credits: pixabay.com
These attractive awards were sponsored by the Tote Board and the Singapore Pools. Instead of having five rings as a symbol for the Olympics, perhaps five dollar signs are more suitable! 😉