Olympic athletes to get cash grants from new $100M US fund created by IOC

It's not Olympic prize money officially, but it is a significant amount of cash going directly to athletes after a Summer or Winter Games.

The International Olympic Committee pledged Wednesday to pay more than $100 million US to athletes through 2028 by creating a fund for $10,000 grants for which they can apply after competing.

The IOC's cash commitment came after growing calls were strongly resisted in recent years to pay prize money at the Olympic Games.

Instead, IOC member and former NBA star Pau Gasol announced the project which will first be open to nearly 2,900 athletes who competed at the 2026 Milano-Cortina Winter Games.

Around 11,000 athletes due to compete at the 2028 Los Angeles Summer Games also can apply for grants totaling about $110 million after those Olympics, if they meet eligibility criteria such as not testing positive for doping.

"This is a win for all of us," said Gasol, who represents athletes on the 15-member IOC executive board, adding it was "not prize money."

The cash promise was the signature issue on the agenda of an IOC meeting setting a future strategy under its president Kirsty Coventry exactly one year after she formally took office.

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Gasol said the IOC had heard a consistent message during its strategy review: "Athletes want more direct support throughout their Olympic journey and beyond."

The 42-year-old Coventry is a five-time Olympian and two-time gold swimming medallist for Zimbabwe. She was elected as the youngest president and most recent former athlete in the IOC's modern history.

Paying prize money to Olympic