Day one of the 146th International Olympic Committee (IOC) Session has produced what many members described as a historic breakthrough for athletes, as International Olympic Committee President, Kirsty Coventry, unveiled a new athlete grant programme that will provide direct financial support to Olympians for the first time in Olympic history.
$10K grant initiative, one of the headline outcomes of the IOC’s year-long “Fit for the Future” consultation process, will offer eligible Olympians a grant of US$10,000 following participation in the Olympic Games.
The scheme is backed by an initial commitment of US$140 million from the IOC’s Olympic Foundation and will not affect existing distributions to National Olympic Committees or International Federations.
Speaking during the post-Session press conference yesterday, Coventry described the programme as a long-standing ambition rather than a reaction to recent criticism regarding athlete compensation.
“This is something I started looking into as soon as I came into office,” Coventry explained. “We need to find direct ways to support athletes. At the end of the day, we found a way to directly support all Olympians, and that is a priority.”
