Singapore kitefoiler Max Maeder awarded S$250,000 for historic bronze at Paris Olympics

SINGAPORE: There was a sizable cheque for Singapore kitefoiler Maximilian Maeder to add to a growing collection of awards and titles, after he received a S$250,000 (US$190,000) prize for his historic Olympic bronze at the Paris Olympics.

Maeder was presented with the cheque during the Major Games Award Programme (MAP) presentation and appreciation dinner at Swissotel The Stamford on Wednesday (Oct 23).

The MAP, which is a Singapore National Olympic Council (SNOC) initiative, rewards Southeast Asian, Commonwealth, Asian and Olympic Games medallists.

Sponsored by the Tote Board, Team Singapore medallists receive a cash payout based on the major Games event and medal won. 

An athlete will be awarded S$1 million for an Olympic gold, S$500,000 for a silver and S$250,000 for a bronze. The only athlete to have received the top award was swimmer Joseph Schooling, who won the 100m butterfly at the 2016 Rio Games.

It is mandatory for all athletes to give a percentage of their MAP awards to their respective National Sports Associations for future training and development. In Maeder's case, he will need to give 20 per cent of his prize money, or S$50,000, to the Singapore Sailing Federation. 

The MAP awards are also taxable.

"The Olympic Games represent the pinnacle of sporting achievement, where the world’s finest athletes gather not just to compete, but to embody the highest ideals of excellence, friendship and respect," said SNOC president Grace Fu, who is also Minister for Sustainability and the Environment.

"Our athletes in Paris did just that – representing Singapore with passion, resilience and unwavering determination.

"They carried the hopes of a nation and stood tall on the world’s grandest stage."

Also attending the event were