Hong Kong’s Athletes Could Get HK$10 Million Per Gold Medal At Paris Olympics

Hong Kong athletes could get HK$10 million (US$1.275 million) or more for winning a gold medal at the 2024 Paris Olympics.

The Sports Federation and Olympic Committee of Hong Kong (SF&OC) and the Hong Kong Jockey Club are already known to award athletes financially, but Legislator Michael Luk Chung-hung believes their government should join forces with private firms and sports organizations such as the Hong Kong Sports Institute (HKSI) and SF&OC to match the incentives given out.

According to Luk, more recognition from the government could encourage their athletes to win medals.

In 2021, fencer Cheung Ka-long received HK$5 million (US$637,500) from the Jockey Club after winning gold at the Tokyo Olympics. Hong Kong won two silvers and three bronzes at the Games. They also won two silver and three bronze medals at the Paralympics.

The Jockey Club awarded athletes for winning medals at the Asian Games last year as well. Athletes who won gold received HK$1 million (US$127,500). The Jockey Club awarded HK$500,000 (US$63,750) for silver and HK$250,000 (US$31,875) for bronze. In total, Hong Kong won eight gold, 16 silver, and 29 bronze medals at the Asian Games.

Luk believes the incentives given out have been casual, and that the government should work together with private firms and sports companies to set up a well-organized sponsorship program.

The Jockey Club Athlete Incentive Award Scheme for Paris will most likely be announced by the HKSI next month. Although Hong Kong doesn’t have a medal target for Paris, Luk proposed that all Hong Kong athletes who do earn a medal get their incentives matched.

If implemented, this could directly impact Siobhan Haughey, who is one of three Hong Kong swimmers qualified for Paris so far. She will be joined by Cindy Cheung and Ian Ho. Haughey won silver at the Tokyo Olympics in the women’s 100 and 200 freestyle, becoming the country’s first-ever Olympic swimming medalist.