The Australian Olympic Committee (AOC) has confirmed that retiring Olympic athletes will not receive a podium bonus for performances at the 2020 Olympic Games.
Through the AOC‘s Medal Incentive Funding (MIF) program, gold medalists are typically paid $20,000, while athletes earn $15,000 for silver and $10,00 for bronze.
However, the funds are specified as ‘incentivizing athletes to continue training, with the goal of representing Australia at the next Olympic Games.’ As such, Tokyo Olympic medalists will only receive a payment from the AOC if they continue training and do not retire.
Paralympians are excluded from this caveat, however.
“Every Australian Paralympian who received a medal for their performance at the Tokyo Games will receive a bonus payment,” sports minister Richard Colbeck said. “This includes any athlete who is planning to retire.” (Fox Sports)
Additionally of note, athletes who win multiple medals will only be rewarded once, based on their best result. For instance, mega-winner Emma McKeon took home four gold medals and three bronze medals, but will only receive one payment of $20,000.
You can review our post on Olympic medal payouts per nation here.