Australia launches new athlete fund ahead of 2032 Games

SYDNEY, Dec 11 : The Australian Olympic Committee announced a tranche of A$50 million ($33.34 million) in new funding for athletes ahead of the 2032 Brisbane Olympics on Thursday, including retirement grants for Olympians and cash awards to help athletes return to elite competition after having children.

The Olympic Futures Fund, launched by a A$20 million grant from the Australian Olympic Foundation (AOF), will award A$5,000 to every athlete selected for an Olympics from next year's Milano Cortina Winter Games up to the 2032 Brisbane Games.

Athletes will be encouraged to attend multiple Olympics by the offer of a means-tested retirement grant of A$32,000 per Games, to be paid in instalments 16 years after they have competed. 

The Return to Olympic Sport Grant (post-birth) offers a starting point of A$10,000 to mothers after the birth of each child.

"Olympians don't do it for the money, but there's a financial sacrifice involved," AOC President Ian Chesterman said in a news release. 

"Many athletes get to the end of their careers and have very little financially and this contribution will make a difference to their retirement. 

"These grants reflect our ambition to contribute meaningfully to the Olympic Movement's shared priorities, empowering athletes, strengthening gender equity, and ensuring that major Games leave lasting legacies."

Canoeist Alyce Wood, who competed at her third Olympics in Paris last year after having her first daughter Florence in 2022, said the grants for mothers would be a "game-changer". 

"It actually acknowledges what athletes are dealing with and gives them the support they need to build long, sustainable careers, in sport," said Wood, who sits on the AOC Athletes' Commission.

"For so many women,