The 2020 Summer Olympics, officially the Games of the XXXII Olympiad, are held from 23 July to 8 August 2021 in Tokyo, Japan. India has sent its largest contingent of 122 competitors to these Games. . Will it result in the highest-ever medal haul too? Articles give an overview of Olympics, Countries and Athletes with a maximum number of medals, the Cost of holding Olympics, who paid and how much. It then talks about India’s performance in the Olympics and on Which Sportsperson can pin their hopes for Olympic medal.

What do winners at the Olympic Games receive?.

The IOC(Indian Olympic Committee), which promotes the games, does not hand out prize money for finishing in the top three of an event. It provides the medals and sends an Olympic diploma, a certificate, to all those who finish in the top eight.

Olympic Winners receive massive incentives for winning medals during the Olympics from their country and private companies.

The US offers a bonus of $ 37,500 to its gold-winning athletes, Australia at $15,000. Singapore offers its Olympic gold medal winner the largest bonus of $1 million Singapore dollars i. e US$737,000. It is followed by Kazakhstan which offers successful athletes $250,000, Malaysia offers $230,000. The table below shows the bonus that country offers to Olympic Medal Winners, as per Money Under 30

But what about athletes that compete but don’t win medals? Other than the thrill of competition, they have to fight hard for other compensation. Many Olympians have to find other ways to make ends meet.

Meanwhile, IOC members get paid more to watch the Olympics ($7,000 USD for 2.5 weeks of work) than most athletes will make competing in the games.

According to a survey conducted by the Associated Press, 58% of Olympic athletes said they did not consider themselves financially stable. Many of the comments were similar to the following:

“Can’t train without funds, but trying to get workaround training is not easy, and [you’re] continually told if you miss sessions you don’t get selected.”

Which Country gives most bonus to Olympic Winners

Endorsements also become a source of income for some Olympians. Jamaican sprint legend Usain Bolt, an eight-time Olympic gold medallist, pulled in over $30 million a year from endorsements.

India and Olympics

Over the years, the government has spent Rs 1,200 crore on athletes according to the Sports Authority of India (SAI). This has been possible due to two schemes

• The annual calendar for Training and Competition (ACTC) and
• TOPS, which is the Target Olympic Podium Schemes covering over 150 athletes across 18 disciplines.

TOPS is one of the reasons behind the success of the Tokyo Olympics silver medallist. Mirabai Chanu was inducted into TOPS in November 2018 and she has received total funding of Rs 51.51 lakhs towards out-of-pocket allowance, equipment and training support, participation in international competitions, sports science assistance, and more. Established with the purpose of helping athletes with all their requirements, TOPS funded the recovery and rehabilitation program of Mirabai twice to be carried out in the United States of America, costing Rs. 1.3 crore. The star weightlifter needed to recover from a back injury and a sore shoulder and funding through the schemes helped her excel at her game on Saturday.

According to the announcement made by the IOA,

• a reward of Rs 75 lakh will be given for winning the gold medal, apart from giving each of the participating National Sports Federations (NSFs) a bonus amount of ₹25 lakh.
• Rs 40 lakh for the silver medal and Rs 25 lakh for the bronze medal.
• The coaches of gold medal winners will get ₹12.5 lakh while those of bronze medallists will be given ₹7.5 lakh by the IOA.

Most states have announced cash rewards where a gold medal will earn athletes between Rs 1-3 crore. The lowest cash prize announced is reportedly by West Bengal at Rs 25 lakh (G), Rs 15 lakh (S) and Rs 10 lakh (B).

How much money will Mirabai Chanu get?

IOA will give a reward of Rs 40 lakh to Mirabai Chanu.

Mirabai Chanu’s coach Vijay Sharma will get ₹10 lakh after his ward’s historic feat as the Indian Olympic Association (IOA) announced cash rewards for coaches of Olympic medal winners.

Minister for Railways Ashwini Vaishnaw on Monday felicitated weightlifter Mirabai Chanu who won a silver medal in the Tokyo Olympics, and announced a reward of Rs 2 crore and promotion in her job in the Northeast Frontier Railway. Chanu, hailing from Manipur, was promoted as an Officer on Special Duty (Sports) in the Northeast Frontier Railway in April, 2018.

Manipur government had announced hefty prize money for its athletes. In this, Rs 1.20 crore was announced for a gold medal and Rs 1 crore for the silver medal. So Mirabai will get a cash reward of Rs 1 crore for illuminating the name of her state. Chief Minister N Biren Singh also said that the state government will be offering her a new job. Chanu is currently employed with Indian Railways as a Ticket Collector.

Apart from this, prizes are expected to be announced from many other parts.

Chanu told NDTV that she had to make sacrifices to get where she is.

To be a big player or achieve something big, you have to make sacrifices and I have made many sacrifices

I had worked very hard for the 2017 World Championship. My sister was getting married, but I missed that.

After failing at the Rio Olympics, I had the World Championship ahead of me and that was my chance to prove myself, so I did not even go home and missed my sister’s wedding,” she said.

PV Sindhu Prize Money after Rio Win

It rained rewards for PV Sindhu after she won India’s first silver medal in Badminton at Rio Olympics 2016.  She got rewards worth 13 crores. The shuttler from Hyderabad was honored by several state governments and private organizations for her remarkable achievement.  The decision to award these Olympians from outside  the state is to inspire the girls across the country to pursue sports and bring laurels to the nation. Article P V Sindhu: Struggles, Rewards, Networth, Saina Nehwal covers P V Sindhu in detail.

1. AP Govt 3 crores
2. Telangana Govt 5 Crores.
3. Delhi Govt 2 Crores
4. MP Govt 50 Lakhs
5. All India Football Federation 5 Lakhs
6. Bharat Petroleum 75 Lakhs
7. Salman Khan 25 Lakhs. Salman Khan was the brand ambassador of the Indian contingent at Rio
8. Badminton Association of India 50 Lakhs
9. Mukkattu Sebastian, An Indian Businessman settled in UAE announced 5 Million USD(2.5 Million USD for Sakhsi, bronze medalist in Rio)
10. Olympic Association of India 30 Lakhs
11. Haryana Govt 50 Lakhs
12. Railway Ministry 50 Lakhs
13. About 2000 Square Yards of Land in AP and Telangana.
14. Grade 1 Government Job in both Telangana and Andra Pradesh. In Jul 2017 PV Sindhu was appointed as Deputy Collector in Andhra Pradesh government. Details here. But is it fair?
15. A BMW Beemer worth 2 Crores.
16. Mahindra to gift her their top in the line SUV
17. 3-4 Builders in AP have announced Flats as a gift to Sindhu and her parents.

About Olympics

The Olympic Games were first witnessed in the city-state of Ells in Greece in 776 BC. The event was held every four years till around 400 AD when Roman emperor Theodosius I put an end to it on the belief that it had pagan associations. It was revived in Greece in its modern-day avatar almost 1,500 years later, in 1896, and has grown to become one of the world’s largest sporting events.

Tokyo Olympic Games Originally scheduled to take place from 24 July to 9 August 2020, were postponed to 2021 as a result of the COVID-19 pandemic, the first such instance in the history of the Olympic Games (previous games had been cancelled but not rescheduled).

The 2020 Games are the fourth Olympic Games to be held in Japan, following the Tokyo 1964 (Summer), Sapporo 1972 (Winter), and Nagano 1998 (Winter) games. Tokyo is the first city in Asia to hold the Summer Games twice. The 2020 Games are the second of three consecutive Olympics to be held in East Asia, following the 2018 Winter Olympics in Pyeongchang, South Korea, and preceding the 2022 Winter Olympics in Beijing, China

London has hosted the Summer Olympics three times – in 1908, 1948 and 2012 – more than any other city

The 28th edition of the Summer Olympics was held in Rio de Janeiro, Brazil, in 2016.

Countries with most medals at Olympics

Medal totals in this table are current as of the 2018 Winter Olympics in Pyeongchang County, South Korea,

Team	Summer Olympic Games					Winter Olympic Games					Combined Total
Team (IOC code)	№				Total	№				Total	№				Total
United States (USA)	27	1,022	795	706	2,523	23	105	112	88	305	50	1,127	907	794	2,828
Soviet Union (URS)	9	395	319	296	1,010	9	78	57	59	194	18	473	376	355	1,204
Great Britain (GBR)	28	263	295	293	851	23	11	4	17	32	51	274	299	310	883
France (FRA)	28	216	246	269	731	23	36	35	53	124	51	252	281	322	855
Germany (GER)	16	191	194	230	615	12	92	88	60	240	28	283	282	290	855
Italy (ITA)	27	207	178	193	577	23	40	36	48	124	50	247	214	241	702
China (CHN)	10	224	167	155	546	11	13	28	21	62	21	237	195	176	608
Australia (AUS)	26	147	166	188	501	19	5	5	5	15	45	152	168	192	512
Sweden (SWE)	27	145	170	179	494	23	57	46	55	158	50	202	216	234	652
Hungary (HUN)	26	175	147	169	491	23	1	2	4	7	49	176	149	173	498
Japan (JPN)	22	142	136	161	439	21	14	22	22	58	43	156	158	183	497

Athletes with maximum Olympic medals

The table from Wikipedia provides a list of multiple Olympic medalists, i.e. those athletes who have won multiple Olympic medals at either the Summer Olympic Games or the Winter Olympic Games.

American swimmer Michael Phelps is the youngest, most decorated Olympian, having won 28 medals in both individual and team events (23 gold, 3 silver, and 2 bronze). Phelps has also won more individual events than any other Olympian, with 16 medals (13 gold, 2 silver, and 1 bronze).

Cost of Holding Olympics

Hosting an Olympics event is like hosting a party. The entire world is invited, but you are the host bearing the cost but at the same time feeling equally proud. The invited people will praise you and your party(good credit score), bring awesome gifts(FDI) and leave but costs are entirely borne by you and some help is received from friends (loans, sponsors).

A host country has 2 possibilities; it can either bring prosperity or debt to a country. Barcelona successfully hosted the event while Greece failed miserably and ended in debt.

According to the Oxford Olympics Study 2016, produced by Bent Flyvbjerg, Alison Stewart and Alexander Budzier of the Said Business School, University of Oxford: “For a city and nation to decide to stage the Olympic Games is to decide to take on one of the most costly and financially most risky type of megaproject that exists, something that many cities and nations have learned to their peril.” The Cost of the Olympic Games is a unique megaproject of the host city and country to build the infrastructure and venues to host either the summer or winter games.

In modern times, budgets allotted to hosting the Olympic games have reached millions and billions of US dollars and often produce losses for the host city. The average Olympic cost overrun since 1960 is 157 percent, far higher than for any other type of major civil project. The following image shows the cost of holding the Olympic Games since 1968.

In 2013, when IOC (International Olympic Committee) awarded the games, Tokyo said that the Olympics would cost about US$ 7.5 billion. The games which were scheduled to happen in 2020, had US$ 12.6 billion as its budget.

But, due to the pandemic, the cost of the games went up by 22%, and hence it is now US$ 15.4 billion. The added US$ 2.8 billion is because of the one-year delay and other issues like renegotiating contracts, taking measures against the pandemic, etc.

However, audits by the Japanese government show the costs are higher than official costs and are estimated to be US$ 25 billion.

Cost of Holding Olympic Games

Cost of Holding Rio Olympics

In 2009, Brazil estimated $14 Billion that could be lavishly splurged to host the Olympics. They ballparked this figure based on various infrastructure improvements like stadiums, transportation, security and other requirements. This amount estimated today for these expenses turns out to be $20 Billion giving the first hit to Rio. The projected total cost for the games, including large infrastructure projects like an extended subway and reformed port area, now stands at 39.1 billion reais.

The higher budget, which comes as Brazil wrestles with its worst recession in decades and an inflation rate of about 11 percent, gives further ammunition to critics who argue the money could be better spent on Brazil’s stretched public services.

The spending on the Olympic stadiums stands in stark contrast to financial problems in Rio’s health system, where hospitals have been forced to close units and turn away patients as money runs out.

YouTube Video shows in 2016 Olympic Games,How much did it cost and who is paying for it?

India in Olympics

India has won 31 medals at the Olympics since the 1900 edition across 24 Olympic Games 9 gold, 8 silver and 14 bronze in Olympics.

• India first participated in the Olympics in Paris in 1900. India was represented only by Norman Pritchard. who won 2silver medals in athletics.
• India has won 8 gold medals in field hockey, five consecutively between 1928 and 1952, and the last in 1980. India also has 1 silver and 2 bronze medals in hockey.
• Shooter Abhinav Bindra is the only individual gold winner from India, having bagged it in the men’s 10 in air rifle event in Beijing, 2008
• Weightlifter Karnam Malleswari was the first Indian woman to win a medal in the Olympics, with a bronze in Sydney, 2000
• India had its highest ever a number of individual Olympic medal winners in London. 2012, with 6 medals
  • two silver winners: Vijay Kumar in shooting and Sushil Kumar in wrestling
  • four bronze winners: Saina Nehwal (badminton). Yogeshwar Dutt (Wrestling). Gagan Narang (shooting) and Mary Kom (boxing)

Broadcasting of Tokyo Olympics in India