
Team USA athletes to receive $200K for Olympic, Paralympic Games participation
Team USA athletes to receive $200K for Olympic, Paralympic Games participation
Show Caption
Hide Caption
Olympic flag returns to Los Angeles ahead of LA28 Games
Olympic flag arrives in Los Angeles, host city for 2028 Games
Athletes who represent Team USA at the Olympic or Paralympic Games will be eligible to receive at least $200,000 in post-retirement benefits as part of a new support plan announced Wednesday.
The plan, fueled by a $100 million donation by philanthropist Ross Stevens, will allow each Team USA athlete to receive a "Stevens Financial Security Award" consisting of two six-figure payments. Eligible athletes will be able to access $100,000 over a four-year period following the end of their Olympic or Paralympic careers − specifically, 20 years after their qualifying Games or when they turn 45 years old, whichever is later. Their families or beneficiaries will also receive $100,000 upon their death.
In a statement announcing the plan, the U.S. Olympic and Paralympic Committee added that the benefits will multiply with each additional iteration of the Games in which the athlete competes − meaning a two-time Olympic athlete would receive $400,000, and a three-time Paralympian would be eligible to receive $600,000.
"Because of Ross' extraordinary generosity and philanthropic creativity, we can create more than a financial safety net," USOPC chairman Gene Sykes said in a statement. "We can build a springboard that will propel these athletes to even greater heights beyond their Olympic and Paralympic careers."
The USOPC said the $100-million "anchor funding gift" from Stevens, the CEO and founder of Stone Ridge Holdings Group, made the program possible. It is the largest single gift in the organization's history.
"Team USA athletes, extraordinary individuals, have proven they can achieve greatness and represent our incredible country with pride," Stevens said in a statement. "The Stevens Awards honor the sacrifices they have made on behalf of all Americans while inspiring the development of their dreams in the post-Games chapter of their lives."
The post-retirement support program offers a creative solution to one of the fundamental issues in Olympic and Paralympic sports.
Unlike in major professional team sports, where athletes have the security of a contract that pays out regardless of performance or injury, most Olympic and Paralympic athletes rely on sponsorship deals and appearance fees to make up the majority of their income. For big stars like gymnastics gold medalist Simone Biles and 100-meter champion Noah Lyles, those income streams are massive. But for the average Olympic athlete in a sport like table tennis or water polo, they are usually not available.
"The reality is that's only the top 5%," water polo player Kaleigh Gilchrist said last summer. "The rest of us are living paycheck by paycheck."
National governing bodies and international federations have offered various stipends to help fund athletes' training and support them during their careers. The USOPC also pays athletes who medal at the Olympic or Paralympic Games; In 2024, they received $37,500 for every gold medal, $22,500 for every silver and $15,000 for every bronze.
Yet because so much of the money is dependent on performance, many athletes feel it's not enough − especially for early-career Olympic athletes, who are trying to get a foothold as a professional. A 2020 survey of nearly 500 elite athletes across 48 countries by advocacy group Global Athlete found 58% of respondents didn't consider themselves financially stable.
The USOPC said the Stevens Awards will help address this issue by providing the sort of savings that Olympic and Paralympic athletes do not have a chance to accrue.
"Admiration of U.S. Olympians and Paralympians is uniquely bipartisan, uniting all Americans, and reminding us of our shared humanity," Stevens said.
Contact Tom Schad at tschad@usatoday.com or on social media @tomschad.bsky.social.
(This story has been updated to add a video.)
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Hamilton Spectator
33 minutes ago
- Hamilton Spectator
Spain tries to stay upbeat after shootout loss to Portugal in Nations League final
MADRID (AP) — As Cristiano Ronaldo lifted the Nations League trophy and his Portugal teammates celebrated behind him, Spain's players watched in clear disappointment. There was no major letdown after the penalty shootout defeat in Sunday's final in Munich, though. There were no calls for a coaching change. There was no blaming of players who underperformed. The feeling was that Spain is still on the right track. Before leaving the field, coach Luis de la Fuente gathered his players and made sure they remained upbeat and ready to start focusing on next year's World Cup. 'It was time to remind them that we have to be proud of this team, of what we have been doing,' De la Fuente said. 'I reminded the players that I'm proud to have them in the team. Now we have to start focusing on the World Cup. I'm still counting on every one of them, on those who were here and those who couldn't come this time.' Spain is the European champion and as a nation has been enjoying one of its best runs in international soccer. The women's team is the World Cup and Nations League champion. La Roja also won the men's Olympic tournament in France last year, as well as the 2023 Nations League. 'You can't question what this team has been achieving,' De la Fuente said. 'It has been defining an era, a style, and it will continue to do so, not because of me, but because of the players that we have.' After beating France 5-4 in the Nations League semifinals last week, Spain lost the final 5-3 on penalties after a 2-2 draw following extra time. Striker Álvaro Morata was the only player to miss his spot kick. 'Morata is a champion and a reference for us,' De la Fuente said. 'I'm responsible for his missed kick because I'm the one who asked him to take the shot.' Martín Zubimendi (21 minutes) and Mikel Oyazarbal (45) twice gave Spain the lead but Portugal rallied with goals by Nuno Mendes in the 26th and Ronaldo in the 61st. 'We have to overcome this defeat as best we can and value the positive momentum we have had in recent years,' Zubimendi said. 'This time we let the title slip away because of details. We have to keep our feet on the ground. We have been used to winning. Since I joined the national team I've only experienced positive things.' De la Fuente took over from Luis Enrique following defeat to Morocco in the round of 16 at the 2022 World Cup in Qatar. He recently had his contract renewed by the Spanish soccer federation until 2028 and the next Euros. He is leading a team with a bright future thanks to young stars such as 17-year-old Lamine Yamal, Nico Williams, Pedri, Gavi, Dean Huijsen and Pau Cubarsí. Spain's next match is in Bulgaria on Sept. 4 in the World Cup qualifiers. ___ AP soccer:


San Francisco Chronicle
an hour ago
- San Francisco Chronicle
Spain tries to stay upbeat after shootout loss to Portugal in Nations League final
MADRID (AP) — As Cristiano Ronaldo lifted the Nations League trophy and his Portugal teammates celebrated behind him, Spain's players watched in clear disappointment. There was no major letdown after the penalty shootout defeat in Sunday's final in Munich, though. There were no calls for a coaching change. There was no blaming of players who underperformed. The feeling was that Spain is still on the right track. Before leaving the field, coach Luis de la Fuente gathered his players and made sure they remained upbeat and ready to start focusing on next year's World Cup. 'It was time to remind them that we have to be proud of this team, of what we have been doing," De la Fuente said. 'I reminded the players that I'm proud to have them in the team. Now we have to start focusing on the World Cup. I'm still counting on every one of them, on those who were here and those who couldn't come this time.' Spain is the European champion and as a nation has been enjoying one of its best runs in international soccer. The women's team is the World Cup and Nations League champion. La Roja also won the men's Olympic tournament in France last year, as well as the 2023 Nations League. 'You can't question what this team has been achieving," De la Fuente said. "It has been defining an era, a style, and it will continue to do so, not because of me, but because of the players that we have.' After beating France 5-4 in the Nations League semifinals last week, Spain lost the final 5-3 on penalties after a 2-2 draw following extra time. Striker Álvaro Morata was the only player to miss his spot kick. 'Morata is a champion and a reference for us,' De la Fuente said. 'I'm responsible for his missed kick because I'm the one who asked him to take the shot.' Martín Zubimendi (21 minutes) and Mikel Oyazarbal (45) twice gave Spain the lead but Portugal rallied with goals by Nuno Mendes in the 26th and Ronaldo in the 61st. 'We have to overcome this defeat as best we can and value the positive momentum we have had in recent years," Zubimendi said. 'This time we let the title slip away because of details. We have to keep our feet on the ground. We have been used to winning. Since I joined the national team I've only experienced positive things.' De la Fuente took over from Luis Enrique following defeat to Morocco in the round of 16 at the 2022 World Cup in Qatar. He recently had his contract renewed by the Spanish soccer federation until 2028 and the next Euros. ___
Yahoo
an hour ago
- Yahoo
Spain tries to stay upbeat after shootout loss to Portugal in Nations League final
Spain's head coach Luis de la Fuente gestures during the Nations League final soccer match between Portugal and Spain at the Allianz Arena in Munich, Germany, Sunday, June 8, 2025. (AP Photo/Matthias Schrader) Spain's head coach Luis de la Fuente shake hands with Spain's Lamine Yamal after the Nations League final soccer match between Portugal and Spain at the Allianz Arena in Munich, Germany, Monday, June 9, 2025. (AP Photo/Matthias Schrader) Spain's players react during the penalty shootout during the Nations League soccer championship at the Allianz Arena in Munich, Germany, Sunday, June 8, 2025. (AP Photo/Martin Meissner) Spain's players react during the penalty shootout during the Nations League soccer championship at the Allianz Arena in Munich, Germany, Sunday, June 8, 2025. (AP Photo/Martin Meissner) Spain's head coach Luis de la Fuente gestures during the Nations League final soccer match between Portugal and Spain at the Allianz Arena in Munich, Germany, Sunday, June 8, 2025. (AP Photo/Matthias Schrader) Spain's head coach Luis de la Fuente shake hands with Spain's Lamine Yamal after the Nations League final soccer match between Portugal and Spain at the Allianz Arena in Munich, Germany, Monday, June 9, 2025. (AP Photo/Matthias Schrader) Spain's players react during the penalty shootout during the Nations League soccer championship at the Allianz Arena in Munich, Germany, Sunday, June 8, 2025. (AP Photo/Martin Meissner) MADRID (AP) — As Cristiano Ronaldo lifted the Nations League trophy and his Portugal teammates celebrated behind him, Spain's players watched in clear disappointment. There was no major letdown after the penalty shootout defeat in Sunday's final in Munich, though. There were no calls for a coaching change. There was no blaming of players who underperformed. Advertisement The feeling was that Spain is still on the right track. Before leaving the field, coach Luis de la Fuente gathered his players and made sure they remained upbeat and ready to start focusing on next year's World Cup. 'It was time to remind them that we have to be proud of this team, of what we have been doing," De la Fuente said. 'I reminded the players that I'm proud to have them in the team. Now we have to start focusing on the World Cup. I'm still counting on every one of them, on those who were here and those who couldn't come this time.' Spain is the European champion and as a nation has been enjoying one of its best runs in international soccer. The women's team is the World Cup and Nations League champion. La Roja also won the men's Olympic tournament in France last year, as well as the 2023 Nations League. Advertisement 'You can't question what this team has been achieving," De la Fuente said. "It has been defining an era, a style, and it will continue to do so, not because of me, but because of the players that we have.' After beating France 5-4 in the Nations League semifinals last week, Spain lost the final 5-3 on penalties after a 2-2 draw following extra time. Striker Álvaro Morata was the only player to miss his spot kick. 'Morata is a champion and a reference for us,' De la Fuente said. 'I'm responsible for his missed kick because I'm the one who asked him to take the shot.' Martín Zubimendi (21 minutes) and Mikel Oyazarbal (45) twice gave Spain the lead but Portugal rallied with goals by Nuno Mendes in the 26th and Ronaldo in the 61st. Advertisement 'We have to overcome this defeat as best we can and value the positive momentum we have had in recent years," Zubimendi said. 'This time we let the title slip away because of details. We have to keep our feet on the ground. We have been used to winning. Since I joined the national team I've only experienced positive things.' De la Fuente took over from Luis Enrique following defeat to Morocco in the round of 16 at the 2022 World Cup in Qatar. He recently had his contract renewed by the Spanish soccer federation until 2028 and the next Euros. He is leading a team with a bright future thanks to young stars such as 17-year-old Lamine Yamal, Nico Williams, Pedri, Gavi, Dean Huijsen and Pau Cubarsí. Spain's next match is in Bulgaria on Sept. 4 in the World Cup qualifiers. ___ AP soccer: