The International Olympic Committee (IOC) has approved a one-time payment of $10,000 to all athletes competing in the Paris 2024 Summer Games, marking the first time the governing body has directly funded Olympians from its own coffers. The decision, announced during the IOC’s 141st Session in Lausanne, Switzerland, also included a formal launch of the bid process for the 2036 Summer Games.

According to the IOC’s official statement, the $10,000 payment—equivalent to approximately €9,300—will be distributed to all 10,500 athletes registered for the Paris Games, regardless of their country of origin or sport. The funds are intended to help offset the financial burden of competing in the Olympics, where athletes often bear significant personal costs for travel, training, and equipment.

Key details:

• Payment amount: $10,000 per athlete
• Eligibility: All registered Paris 2024 competitors
• Distribution timeline: Payments expected before the Games begin on July 26
• Funding source: IOC’s own budget, not sponsorship or host city contributions

Why This Matters: A Historic Shift in Olympic Funding

Until now, the IOC has never directly compensated athletes for their participation in the Games. While host cities and national Olympic committees occasionally provide stipends, the burden of covering travel, accommodation, and training costs has historically fallen on athletes themselves—or their sponsors. The $10,000 payment represents a significant departure from this tradition.

Thomas Bach, IOC President, framed the decision as a recognition of the sacrifices athletes make to compete at the world’s premier sporting event. “The Olympics are the pinnacle of achievement in sport, but they also come with significant personal costs,” Bach said in a statement. “This payment is a small but meaningful step toward ensuring that athletes can focus on what matters most: their performance.”

“The Olympics are the pinnacle of achievement in sport, but they also come with significant personal costs. This payment is a small but meaningful step toward ensuring that athletes can focus on what matters most: their performance.”
—Thomas Bach, IOC President

Official IOC statement confirms the payment is not tied to performance or medal outcomes, ensuring equal distribution across all competitors. This contrasts with some national Olympic committees, which have previously offered bonuses to medalists only.

How the Payment Compares to Existing Athlete Support

The IOC’s move comes as athletes increasingly advocate for better financial support. While the $10,000 figure is modest compared to the earnings of top professional athletes—such as the $1.5 million prize for gold medalists in some sports—it represents a landmark acknowledgment of the economic realities faced by Olympians.

To put the payment into context:

Note: Some national committees, like the US Olympic & Paralympic Committee, have historically offered additional bonuses for medalists, while others provide flat stipends. The IOC’s payment is unique in being universal and funded directly by the organization itself.

2036 Games: Bid Process Launched Amid Global Interest

In addition to the athlete funding announcement, the IOC’s 141st Session formally launched the bid process for the 2036 Summer Games. According to the IOC’s official bid guidelines, interested cities and countries must submit expressions of interest by October 2024, with full bids due by July 2025. The selection process is expected to be more streamlined than in past cycles, with an emphasis on sustainability and legacy.

Potential candidates for 2036 include:

• Australia: Sydney has expressed interest in hosting a second Games, 30 years after its 2000 success.
• Germany: Berlin and Hamburg remain in discussions, with German officials emphasizing infrastructure readiness.
• United States: Los Angeles, which hosted the 2028 Games, has not ruled out bidding for 2036.
• Middle East: Saudi Arabia and Qatar have hinted at potential interest, though political and logistical hurdles remain.

The IOC’s decision to accelerate the 2036 bid timeline—just two years after Paris 2024—reflects a strategic push to secure a host city sooner rather than later. “We want to give potential hosts sufficient time to prepare robust bids while maintaining momentum in the Olympic movement,” said Bach.

What This Means for Athletes and the Future of the Olympics

The $10,000 payment is unlikely to solve the broader financial challenges faced by Olympians, many of whom rely on sponsorships, part-time jobs, or family support to fund their careers. However, the IOC’s decision signals a growing recognition of the economic disparities in Olympic sports.

For context, a 2023 study by the University of Oxford found that only about 10% of Olympians earn enough from their sport to live comfortably, with the majority relying on external income sources. The IOC’s payment, while modest, could help bridge this gap for some athletes.

Longer-term implications include:

• Increased athlete representation: The IOC has faced criticism in recent years for being out of touch with athletes’ needs. This payment could be a step toward greater athlete influence in decision-making.
• Pressure on sponsors: If the IOC continues to fund athletes directly, it may reduce the financial burden on sponsors, who have traditionally borne much of the cost of supporting Olympians.
• Future funding models: The $10,000 payment could set a precedent for recurring athlete support, though the IOC has not yet confirmed whether this will become an annual practice.

How Athletes Are Reacting

Reactions from the Olympic community have been largely positive, though some athletes have called for more substantial support. Swiss skier Wendy Holdener, a two-time Olympian, welcomed the payment but emphasized that it is just a starting point.

“It’s a good first step, but $10,000 won’t cover the costs of competing in the Olympics for most athletes. We need a more sustainable funding model that recognizes the full value of what we bring to the table.”
—Wendy Holdener, Swiss skier and two-time Olympian

Meanwhile, the International Olympic Committee of Athletes (IOCA), which represents Olympians globally, has praised the decision as a “long-overdue acknowledgment of the financial realities of elite sport.” In a statement, IOCA President Kirsty Coventry said:

“This payment is a significant milestone in the IOC’s relationship with athletes. While $10,000 is not enough to fully address the financial barriers to Olympic participation, it sends a clear message that the IOC is listening.”
—Kirsty Coventry, IOCA President

What Happens Next: Key Deadlines and Updates

For athletes, the next steps are clear: the $10,000 payments are expected to be distributed in the coming weeks, with exact timelines to be confirmed by the IOC. Athletes should check with their national Olympic committees for specific disbursement details.

For the 2036 Games, the bid process will unfold as follows:

• October 2024: Deadline for expressions of interest.
• July 2025: Full bid submissions due.
• 2026: IOC Evaluation Commission visits potential host cities.
• September 2026: Expected announcement of the 2036 host city.

For those following the Paris 2024 Games, the IOC has also confirmed that athlete funding will be a key topic of discussion in the post-Games review, with potential adjustments for future editions.