IOA announces Rs. 50 lakh cash award for Rio gold medallist

The Indian Olympic Association today announced a Rs 50 lakh cash award for the gold medal winning athlete in the Rio Olympics.

Published : Aug 05, 2016 22:44 IST , Rio

Abhinav Bindra was the last gold medalist for India in the Olympic Games.
Abhinav Bindra was the last gold medalist for India in the Olympic Games.
lightbox-info

Abhinav Bindra was the last gold medalist for India in the Olympic Games.

The Indian Olympic Association today announced a Rs 50 lakh cash award for the gold medal winning athlete in the Rio Olympics.

At a meeting with the managers and coaches of the teams, the IOA top brass comprising of president N Ramachandran and secretary general Rajeev Mehta, announced that the national Olympic body for the first time, would award Rs 50 lakh for a gold medal, Rs 30 lakh for silver and Rs 20 lakh for bronze.

In addition, the coaches will be awarded an equivalent of 50 per cent of the amount that the athletes receive. So, a gold-winning athlete would receive Rs. 50 lakh, while his or her coach would receive Rs. 25 lakh and so on.

Ramachandran said, “this is the first time we are doing it and we hope that this will form an additional incentive for the athletes, we are looking at a higher than ever medal haul“.

Chef de Mission Rakesh Gupta added, “The athletes must keep in mind that they are ambassadors of the country and all eyes will be on them. We want the very best from them and no effort has been spared in helping them“.

Around 70 athletes and 24 officials are expected to attend the opening ceremony

Sign in to unlock all user benefits
  • Get notified on top games and events
  • Save stories to read later
  • Access to comment on every story
  • Sign up / manage to our newsletters with a single click
  • Get notified by email for early bird access to discounts & offers to our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide to our community guidelines for posting your comment