By THE SCM SPORT DESK
IN A STUNNING world first, every single athlete who competes at the Olympic Games is to be handed a whopping $10,000 (£7,900) cash injection to help fund their sporting dreams and life of every Olympian after the track, SCM can reveal.
The International Olympic Committee (IOC) has today torn up the history books by unveiling the jaw-dropping “Fit for the Future Olympian Grant.”
For decades, athletes have complained about the brutal financial realities of elite sport, with many working second jobs or relying on the ‘Bank of Mum and Dad’ just to make it to the starting line. But today, global sports bosses finally opened their chequebooks.
A staggering $140 million (£110 million) fund has been locked in per four-year Olympic cycle, meaning around 14,000 athletes across the globe will benefit from the bumper payday.
The history-making news was dropped today in Lausanne, Switzerland, during the 146th IOC Session. Pau Gasol, the legendary former NBA basketball star and current Chair of the IOC Athletes’ Commission, announced that the fund will kick off almost immediately.
And it is fantastic news for the ice and snow heroes heading to the Milano Cortina 2026 Olympic Winter Games, who will be the very first athletes in human history to pocket the cash.
Crucially, the money is not a bonus exclusively reserved for the elite superstars who finish on the podium. It will be paid out to every single competitor who makes the cut, regardless of whether they bring home a gold medal or finish dead last.
Speaking in Lausanne, a proud Gasol said: “This grant will be available to every Olympian. Not just medal winners. Not just athletes from certain countries. Every Olympian.
“While every athlete’s journey is different, every Olympian has made sacrifices to reach the Olympic stage. Years of dedication. Years of hard work. Years of believing in a dream.
“This is not prize money. This is about recognising the journey and the commitment it takes to become an Olympian.”
The cash is designed to act as a lifeline for athletes to support their training or help them transition into normal working life when they finally hang up their boots.
Crucially for Team GB and other national squads, the new money is completely separate from existing funding.
The IOC has guaranteed that this massive handout will not take a single penny away from current grants, International Federations, or the Olympic Solidarity fund. It is purely extra cash.
The revolutionary move has been years in the making, following heavy pressure from athlete groups demanding a slice of the multi-billion-pound Olympic TV broadcasting pie.
Delighted IOC President Kirsty Coventry admitted the breakthrough was a long time coming. She said: “It has been a topic of conversation for many years, and I am extremely proud that we are now able to do this.”
Under the strict new rules, any athlete with official ‘Aa’ accreditation at the Games will be eligible. However, teen stars competing in the Youth Olympic Games (YOG) will miss out.
Naturally, there is a catch for the bad boys of sport.
The IOC has made it crystal clear that any athlete with a history of doping will not see a single cent. To get the money, athletes must have a clean record free from Anti-Doping Rule Violations and must not have breached the strict IOC Code of Ethics or the Olympic Charter.
The IOC will spend the rest of the year hammering out the final paperwork, with applications for the Milano Cortina winter games set to open by the end of 2026.
The first wave of lucky athletes will see the cash land in their bank accounts in 2027. If an athlete decides they do not need the money and chooses not to apply, their £7,900 allocation will remain locked in the fund to help support future generations of sports stars.