[Praxius]

CTV.ca | Canadian athletes to be paid for winning at Olympics

Canadian athletes that reach the podium at any future Olympic Games will be financially compensated up to $20,000 per medal, officials said Monday. The new Athlete Excellence Fund was announced in Ottawa by the Canadian Olympic Committee (COC). Canadian athletes will receive $20,000 per gold medal won at any Olympic Games, said the COC. Silver winners will be compensated $15,000 per medal and bronze winners will earn $10,000. "This is the first time in its history that the Canadian Olympic Committee is providing performance awards to athletes who win Olympic medals," said COC president Michael Chambers. "We've taken the concept of excellence funding one step further, and are excited as this program demonstrates our commitment to athlete performance and rewarding excellence." Chambers said the COC wants to be different from other countries that only award medalists but ignore funding development programs. Adam van Koeverden, two-time Olympic medallist in sprint kayak, said the financial burden on Olympic athletes and their families can be heavy. "Through this fund, the COC is recognizing that burden, and what an incredible asset more Olympic medals will be for our communities and for Canada," he said. The awards will apply to all Olympic athletes, including those playing in a team sport. In the three non-Olympic years of the four-year cycle, athletes who place in the top five in years one or two, or top four in year three, will receive $5,000. Canadian athletes competing at the 2008 Olympics in Beijing will be the first eligible to receive the money. The 2008 Olympic Games, which will run from August 8-24, will feature a total of 28 sport disciplines, 302 events, more than 200 participating countries, and an estimated 10,700 athletes, says the COC. Canada will have about 300 athletes participating in Beijing. The COC said the goal for the Canadian team is to finish among the top 16 nations in overall medal count.

Sound like a good idea? Makes sense to me, as I don't see how many can make it to the olympics on their own, unless they're rich. And if they are representing our country as being the best and win, you think the country in turn would kinda reward them.