Team GB have already surpassed their medal haul from the previous Winter Olympics, but those athletes will not earn extra money for finishing on the podium. The British Olympic Association is one of three national Olympic committees that do not pay prize money.
A pre-tournament target of between four and eight medals was set for the Milan Cortina Games. That tally is within reach following Matt Weston’s individual skeleton triumph and mixed team victory alongside Tabitha Stoecker, as well as Charlotte Bankes and Huw Nightingale clinching gold in the mixed team snowboard cross.
It means that Team GB have improved on their disappointing two medals at the Beijing Games in 2022 and will look to add more before the Winter Olympics come to a close on Sunday. However, many other nations offer greater financial incentives to secure a medal than Team GB.
British Olympians receive funding from the National Lottery, which is allocated by UK Sport. The Athlete Performance Award is an annual stipend reportedly worth up to £27,800 that helps cover living and sporting expenses.
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BBC Sport reports that Team GB have a pay scale depending on how likely an athlete is to secure a medal in their event. However, the funding is not for athletes considered professional, whether through their contracts, prize money or endorsement deals.
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An athlete judged to be earning above the £65,000-per-year threshold, including their APA funding, will have their funding reduced. This is in contrast to several nations that offer large sums of prize money to their Olympic medalists.
Forbes reports that Singapore are the country with the largest prize money payout available, with around £582,749 potentially being awarded to gold medal athletes. The nation is searching for its first medal at the Winter Olympics.
Singapore is one of seven Olympic committees offering up to six-figure sums to its athletes, with Hong Kong also willing to pay its Olympic champions £568,680. The top two are followed by Poland (£262,866) and Kazakhstan (£185,117)
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Host nation Italy offer a gold medal incentive of approximately £157,720. The remaining top seven highest payouts come from Cyprus (£131,063) and Bulgaria (£111,810).
This is notably more than both the USA and Canada. Any American gold medalists will receive a reported £27,767, while Canada offers a payout of around £11,107 to their winning Olympians.
However, Team GB athletes are not the only ones who do not have prize money as an extra incentive. Sweden and Norway also do not pay their Olympians for podium finishes.
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