Canada's Olympians & Paralympians Will Get Paid For Medal Wins Thanks To A $1.2M Donation
Medallists from Tokyo 2020 and Beijing 2022 are going to get some cash!
Olympians biting their medals. Paralympians showing their medals.
Good news for Team Canada! A recent donation to the Canadian Olympic Foundation and Paralympic Foundation of Canada means that players who won medals in the last two games are going to get paid.
On Wednesday, March 30, the Canadian Paralympic Committee announced the exciting news that Canadian entrepreneur Sanjay Malaviya generously gave $1.2 million to the two groups.
Olympians and Paralympians who won medals of any kind in the Tokyo 2020 and Beijing 2022 will receive a $5,000 grant per medal earned.
This means that 130 Olympians and 53 Paralympians will be getting a chunk of cash.
As well, $100,000 will go to a program to help support future Olympians and Paralympians.
Malaviya, who is a Canadian healthcare technology entrepreneur, said that the athletes have inspired us during "a very difficult time."
"It's an honour to be able to celebrate their achievements and invest in their future," he shared.
The donation is particularly significant for Canadian Paralympians who don't actually receive any money when they win a medal.
In comparison, a Canadian Olympian can earn up to $20,000 for a gold medal, $15,000 for a silver medal and $10,000 for the bronze.
The Director of the Paralympic Foundation of Canada Dean Brokop thanked Malaviya for recognizing Paralympians along with their counterparts.
"This generous gift will play a pivotal role in empowering Canada's finest athletes as they work towards reaching more podiums in Paris and Milan-Cortina," he said.
This article's cover image was used for illustrative purposes only.