Sneaky twist in Olympic medallists' $20k bonus
<p>Australian athletes who won a medal at the Olympics or Paralympics in Tokyo this year are about to receive a major monetary bonus – but there is one catch.</p>
<p>Australian athletes who finished on the podium at the Olympics in Tokyo will not receive the bonus of $20,000 if they retire after the Games.</p>
<p>The Australian Olympic Committee (AOC) gives a $20,000 cash bonus to Olympic gold medallists, while silver medallists and bronze medallists take home $15,000 and $10,000 respectively.</p>
<p>The AOC has confirmed it will not give money to any athletes who are retiring after the Games – all for one exception. If the athlete is a Paralympian and they retire after the Games, they will still receive the bonus.</p>
<p><strong>Medal Incentive Funding from AOC</strong></p>
<p>The Medal Incentive Funding (MIF) is entirely funded by the AOC and is independent of the federal government.</p>
<p>Set up as an annual athlete incentive scheme, an AOC statement says: ‘MIF aims to incentivise athletes to continue training, with the goal of representing Australia at the next Olympic Games, summer and winter,’</p>
<p>The AOC statement explains the MIF is not available to athletes who stop competing at an elite level.</p>
<p>‘Athletes must maintain appropriate training regimes with the intention of gaining national selection in the following year in order to receive the payment,’ the statement explains.</p>
<p><strong>This rule does not apply to Australia’s Paralympians</strong></p>
<p>However, this rule will not apply to Australia’s Paralympians.</p>
<p>Sports Minister Richard Colbeck said: “Every Australian Paralympian who received a medal for their performance at the Tokyo Games will receive a bonus payment.”</p>
<p>“This includes any athlete who is planning to retire,” he added.</p>
<p>Only last week, Prime Minister Scott Morrison announced Australia’s Paralympic medallists will for the first time receive equivalent bonus payments to their Olympic counterparts.</p>
<p>Speaking before the House of Representatives, the Prime Minister said the move recognised the “national significance” of the Paralympic team.</p>
<p>Prior to Mr Morrison’s announcement, the Paralympic athletes did not receive any monetary bonuses for winning medals.</p>
<p>This year’s Paralympics featured more than 4500 athletes representing 163 different countries.</p>
<p>Australia finished seventh on the Tokyo Paralympic Games medal tally with 21 gold, 29 silver and 30 gold medals.</p>
<p><em>Image: Getty Images</em></p>
