THE prize money for athletes who land medals at Tokyo 2020 has been announced.
But it’s bad news for Team GB winners, who have won five gold, seven silver and six bronze medals so far.
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Team GB medal winners will not receive a cash prize when standing on the podium in Tokyo 2020Photo credit: Getty
The Independent claims to get British Olympic medalists like Tom Daley NOTHING for the podium.
By comparison, the U.S. Olympic and Paralympic Committee spends around £ 27,000 on a gold medal, £ 16,000 on silver and £ 10,000 on bronze.
But that’s nothing when it comes to other countries that tend to win fewer medals.
Malaysian athletes will receive £ 17,000 for bronze, £ 52,000 for silver and £ 173,000 for gold.
Hong Kong now pays £ 115,000 for bronze, £ 230,000 for silver and £ 461,000 for gold.
But Singapore spends the most, spending £ 205,000 on bronze, £ 266,000 on silver and a staggering £ 533,000 on gold.
However, individual Olympic committees are well paid by the organizers.
The International Olympic Committee will raise a staggering £ 2.8 billion in television rights.
The American television network NBC alone has spent £ 5.5 billion to broadcast all of the Summer and Winter Olympics through 2032.
And Tokyo 2020 alone is estimated to be an event worth at least £ 11 billion.
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As for the real value of the medals themselves, fans were stunned by how low they are.
A gold medal is only worth £ 587 as it contains only six grams of gold and contains 550 grams of silver.
In fact, this year’s medals were also made from recycled electronics, including over six million reused cell phone parts.
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Team GB’s gold medal swimmers grinned as BBC presenter Clare Balding praised them for the “phenomenal third leg”
