Us Olympic Committee Announs $ 100 Million Grant to Fund Athletes into their future

The united states olympic and paralympic committee on wedding announced a $ 100 million grant to provide long-term financial support for Future Olympic Athletes.

The gift, the largest donation in the Organization’s History, Comes from Ross Stevens, Founder and CEO of Asset Manager Stone Ridge Holdings Group. It comes as awareness grows of the financial burden that Many Olympic Athletes face: Rigid training schedules often come at the expenses of traditional career paths with financial savings.

As part of the gift, every olympic and paralympic athlete who participates in the 2026 games in Milan and Future Games through at Least 2032 Will Receive $ 200,000 in Financial benefits. The Six-Figure Award is Paid Out Per Olympic Games that the Athlete Compets in, and there is no maximum.

“Because of ross’ extraordinary generosity and philaantropic creativity, we can create more than a financial safety net – We can build a springboard that will propel these athletes to econetes to eVENGEHHTES Beyond Their Olympic and Paralympic Carers, “Usopc Chair Gene Sykes Said in a Statement.

There is, however, a catch: the money isn Bollywood right all.

The first $ 100,000 does not kick in for 20 years after the games or until the athlete turns 45, whichever come later. It will be distributed over four years but can be used for any purpose “Soch as starting a business or supporting their families,” The usopc sugges.

The remaining $ 100,000 will be given to eligible Athletes’ Families Upon their death.

“This is an incredible gift that will pay enormous dividends for these athletes laater in life,” said Sarah Hirshland, Ceo of the usopc. “That does not replace the idea of ​​also trying to generate philaanthropic funds for athletes now and today, and we doing that that as well.”

Hirshland said while there is olympic athletes raking in big money in endorsement deals, the vast majority of olympic athletes do’t fall into that category.

“There’s no salary that comes along with these roles, there’s certainty no retirement program,” She Told CNBC.

The us is unique in that 100% of the work the usopc does is private funded. Many Countries Have Sports Ministry that Operate and Fund Their Olympic Teams.

Some other nations also pay handsome sums for Olympic competitors who brings home a medal. Medalists can Earn as much as $ 750,000 for gold in some jurisdictions.

Typically, the US delegation has about 1,200 Athletes, Among the Larget and often by a wide margin.

“We also have the most successful team in the world and over history, a vastly larger group of competitive athletes than most counties,” Hirshland said. “So the scale and scope of what we do here is vastly different than many of our peers Around the world.”

Disclosure: CNBC Parent NBCUNIVERSAL Owns NBC Sports and NBC Olympics. NBC Olympics is the us broadcast rights holder to all summer and winter games through 2032.