The athletes representing the United States in the Olympics and Paralympics currently receive no government salary, but this will change with the upcoming Milano Cortina Olympics. Starting February 2026, each athlete will receive a payment of $200,000, irrespective of their performance levels.
This substantial support stems from a landmark $100 million donation from financier Ross Stevens, who expressed a desire for athletes to have financial security. “I do not believe that financial insecurity should stop our nation’s elite athletes from breaking through to new frontiers of excellence,” Stevens stated in a recent interview with the Wall Street Journal.
The compensation, which will not be provided as a single lump sum, will be distributed in two payments of $100,000 each. The first will be given 20 years after an athlete’s first Olympic qualifying appearance or when they turn 45, whichever is later. The second installment will serve as a secure benefit for their families upon the athlete’s passing.
This financial package will allow athletes to earn $200,000 per Olympic event they participate in, offering significant support, especially for athletes in lesser-known sports without professional leagues.
Until now, athletes only received prize money for medals earned, funded through TV income and sponsorship arrangements. At the upcoming 2024 Paris Olympics, for instance, the U.S. Olympic and Paralympic Committee paid $37,500 for a gold medal, $22,500 for silver, and $15,000 for bronze. This new donation is especially crucial for athletes involved in sports with limited revenue opportunities, enabling them to better manage their careers without compromising their Olympic ambitions. Many competing athletes currently juggle regular jobs while pursuing their Olympic dreams, making this donation a substantial motivator.
While other countries already offer pensions or retirement benefits for their athletes, the U.S. Olympic & Paralympic Committee previously lacked the governmental funding to do so. Now, with Stevens’ contribution, the 232 athletes on Team USA for the upcoming Winter Olympics and Paralympics will be the first to benefit from this program.
