What can Team GB stars hope to earn after Olympic medals? (2024)

Standing on the Olympic podium, medal in hand, is the pinnacle of an athlete's career. Years of gruelling training, determination and sacrifice have led to this moment. Everything has paid off - potentially in more ways than one.

In the UK, there's often not huge money in sport itself, unless you're playing at the top levels of football. There is, however, money to be made from advertising and sponsorship.

And this helps to incentivise sports participation, especially if your chosen discipline feels "a bit forgotten", as one Team GB gold medallist tells the BBC.

So, how much money could an Olympic medal translate into for GB’s stars?

Claire Bowden-Hughes, founder and director of En2End sports events agency, says winning any Olympic medal “significantly enhances an athlete’s marketability", making them more attractive to global brands.

This can lead to substantial earnings through sponsorships and endorsements.

High-profile athletes like GB sprinter Dina Asher–Smith, who has won Olympic medals in Rio, Tokyo and Paris, plus a host of others at World and European Championships - "can earn anything between £1m to £10m annually from endorsement deals," Bowden-Hughes says. "For instance, her deals with Nike, Hublot, and Müller are highly lucrative."

Cyclist Emma Finucane looks set to become one of the biggest British names to emerge from the Paris Games. The 21-year-old was part of the team that set a new world record as they took gold in the women's team sprint. She went on to bag herself a bronze in the keirin and on Sunday hopes to go for gold again.

Finucane "has the potential to earn significant income given her recent successes and high visibility", says Bowden-Hughes.

Another gold would mean "her marketability will skyrocket" and "she could potentially earn anything between £1m to £3m annually from various brand deals and endorsements", she predicts.

And it doesn't have to be a gold. A medal of any metal will do, the experts say.

While a bronze medallist who is not yet a huge household name may not earn as much as a gold medallist, substantial sums of between £10,000 to £50,000 per year can still be on the table, Bowden-Hughes suggests.

She cites the example of diver Andrea Spendolini-Sirieix - daughter of First Dates star Fred Sirieix - who claimed bronze with her partner in the women's synchronised 10m platform contest.

But as well as the individual, earnings "really depend on the sport and its profile", says Nigel Currie, a sponsorship and marketing consultant.

Rower Georgie Brayshaw, whose team took a nail-biting gold in the women's quadruple sculls, tells the BBC she has not yet been approached by any brands offering sponsorship deals or endorsements, but "it would be amazing" if she did.

National Lottery funding through British Rowing pays her £28,000 annually - the highest level available - and British Rowing covers the costs of competitions and camps. But a sponsorship would make it all a bit more "feasible", she says.

"Rowers are a bit forgotten in sponsorships, both personally and as a team as a whole," the 30-year-old adds.

While the team are "very motivated" and want to win regardless of the financial rewards, medal bonuses would potentially make the sport more appealing to others, Brayshaw believes.

She's not talking about huge individual deals either. She suggests supermarket sponsorships that would lead to subsidies on groceries for athletes.

The relatively short careers of professional athletes - who often retire in their 30s or even younger - may also prompt them to look elsewhere for sources of income. Or for those in sports with a smaller following, ways to keep their profile elevated in between the Games.

The public interest in athletes in the wake of an Olympics can lead to TV appearances and book deal offers which "can be from anything in the range of £10,000 up to £500,000 plus, depending on the athlete's profile and story," says Bowden-Hughes.

Strictly Come Dancing has seen a host of Olympians and Paralympians grace its sprung floor, with gold-medal winning swimmer Tom Dean one of the latest celebrities announced to be taking part in this year's show.

One former Strictly contestant is long-jumper Greg Rutherford, whose gold at London 2012 first propelled his name into households across the UK.

"He did just about every TV show going," observes Currie. Rutherford appeared in some of British TV's biggest programmes, including Masterchef and Dancing on Ice.

But the pay pales in comparison to what is received by superstars like Simone Biles and Usain Bolt, whose sporting prowess has made them global household names. This appeal to brands has, in turn, made those sportspeople multi-millionaires.

Forbes estimates that Biles - who now has 11 Olympic medals - made $7.1m (£5.6m) in 2023, $7m of which came from endorsements. Bolt has an estimated net worth of $90m, according to CelebrityNetWorth. It wasn't until their appearances on the Olympic stage that they reached the heights of fame that they currently enjoy.

But the lucrative deals that could be on offer today for the likes of Team GB's gold-winning 800m runner Keely Hodgkinson are a far cry from what Olympians received in decades past.

Following her own 800m victory at the Tokyo 1964 Games, Ann Packer "did a quick ad for Heinz beans… and then I had a three-year contract with Bovril".

It left her with "a very modest amount of money", she told BBC Radio 4's Today programme. But it was enough to set up a home with her husband, fellow Olympian Robbie Brightwell.

Packer retired at age 22 in order to profit from her win, since Olympic rules back then prevented professional athletes from competing.

Unlike today, prizes used to be provided too. “A very popular one was a picnic hamper," Packer said. "You might get a tea set, a set of Pyrex dishes, cookware… it’s better than a kick in the teeth isn’t it?"

The 82-year-old said she had been happy, and the 1960s and 2020s were non-comparable. But one thing hadn't changed.

"I believe that the athletes that are competing today are still motivated in exactly the same way as we were," she said. "Not by the money, but by proving themselves to be either the best they can be - or the best in the world."

What can Team GB stars hope to earn after Olympic medals? (2024)

FAQs

What can Team GB stars hope to earn after Olympic medals? ›

The public interest in athletes in the wake of an Olympics can lead to TV appearances and book deal offers which "can be from anything in the range of £10,000 up to £500,000 plus, depending on the athlete's profile and story," says Bowden-Hughes.

How much do GB athletes get paid for gold? ›

While team GB does not reward their athletes, many other countries do. The US awards $37,500 to every gold medallist, $22,500 for silver, and $15,000 for bronze. France awards significantly more, with its gold medallists receiving €80,000 ($87,627), €40,000 ($43,900) for silver, and €20,000 ($22,000) for bronze.

What was the Team GB medal goal? ›

UK Sport - the body responsible for distributing public money to Olympic sports and their athletes - set a target to win a minimum of 50 medals in Paris, which they reached on Day 12 on the Games, with an additional expectation set to finish in the top five in the medal table.

How many Olympic medals did GB get? ›

Let the celebrations begin - Team Great Britain have finished Paris 2024 with 65 medals, beating their total from Tokyo by one. The total matches the team's medal haul from London 2012 and is the joint-third-highest for Team GB at a single Games behind Rio 2016 (67 medals) and London 1908 (146).

Can GB win any more gold medals? ›

Team GB have won all of the medals they are able to win at the Paris 2024 Olympic Games. After two weeks of competition there is no more Great Britain can do. Team GB have won all of the medals they are able to win at the Paris 2024 Olympic Games. After two weeks of competition there is no more Great Britain can do.

How much do athletes make per medal? ›

The U.S. Olympic and Paralympic Committee pays American athletes who bring home the gold $37,500, which is on the lower end of the scale compared to other countries. A silver medalist gets $22,500 and a bronze winner $15,000.

Do you get money for winning an Olympic medal? ›

While the International Olympic Committee itself does not provide monetary rewards to Olympic medalists, many countries provide prize money to athletes for winning a medal at the Olympics.

How many medals has GB won in 2024 today? ›

GB end Paris 2024 with 65 medals to top Tokyo total.

How many medals were GB aiming for? ›

UK Sport had forecast that Team GB would win between 50 and 70 medals in Paris. It is looking likely that they will come close to their Tokyo haul of 64 medals. France and Britain, who have been vying for fifth place, will both have opportunities to add to their total today.

How many Team GB athletes are there in 2024? ›

The delegation of 327 athletes included 172 women and 155 men and featured 73 medallists from previous Games.

Why Team GB and not team UK? ›

After all, Great Britain comprises England, Scotland and Wales, whereas the UK is the United Kingdom of Great Britain and Northern Ireland. That's one of the home nations left out. Officially , the team is the "Great Britain and Northern Ireland Olympic Team".

What was the medal target for Team GB? ›

Medals were claimed in 17 of the 25 sports in which they were represented, with gold in 10 of those. In the build up to the Paris Games, UK Sport said the target was between 50 and 70 medals.

Where did Team GB finish in the 2024 Olympics? ›

Britain finished seventh on the Olympic medal table as Paris 2024 wrapped up on Sunday. Team GB won 14 golds while their 65 total medals were the third-most of any team, behind the United States and China and one ahead of hosts France.

What is GB medal Target? ›

Officials had set a target of between 50 and 70 medals which was safely achieved as a number of big stars secured Olympic triumph, including Keely Hodgkinson on the Stade de France track, Alex Yee in a dramatic men's triathlon and three crews on the water at Vaires-sur-Marne as the rowers rebounded from a difficult ...

Can there be two gold medal winners? ›

Filipino gymnast who won 2 Olympic golds in Paris gets hero's welcome and free buffets for life. Catch up on the developing stories from around the globe making headlines.

How many golds did GB get in Tokyo? ›

Gold medals are key in the official table and with only 14 of them, compared to 22 in Tokyo or 27 in Rio in 2016, Team GB was only the third-highest ranking European nation behind the fifth-placed hosts France (16 golds) and the Netherlands (15 golds) in sixth.

How much money do you get for a gold medal in the UK? ›

“Some countries do financially reward their athletes, some quite handsomely,” Bloom said. A gold medal winner from Hong Kong or Singapore, for instance, can expect more than $700,000 for their podium finish. However, other nations like Great Britain, Sweden and Norway offer no cash prize.

Do athletes pay taxes on gold medals? ›

Yes, some U.S. Olympic medalists have to pay federal taxes on their winnings. Federal law exempts Olympic medalists from being taxed on their winnings if their annual incomes are under $1 million. High-earning athletes are still on the hook.

What is the prize money for the Olympic gold medal for Pakistan? ›

Nadeem will receive more than PKR 150 million from the Pakistan government, which is more than ₹4.5 crore or $538,000. Of the total prize money, Chief Minister of Pakistan's Punjab, Maryam Nawaz, has announced a reward of PKR 100 million, according to Pakistan-based news outlet Dawn.

What was the prize for winning the Olympics in ancient Greece? ›

What prizes did Olympic victors get? A victor received a crown made from olive leaves, and was entitled to have a statue of himself set up at Olympia. Although he did not receive money at the Olympics, the victor was treated much like a modern sports celebrity by his home city.

Top Articles
Latest Posts
Recommended Articles
Article information

Author: Margart Wisoky

Last Updated:

Views: 6138

Rating: 4.8 / 5 (78 voted)

Reviews: 93% of readers found this page helpful

Author information

Name: Margart Wisoky

Birthday: 1993-05-13

Address: 2113 Abernathy Knoll, New Tamerafurt, CT 66893-2169

Phone: +25815234346805

Job: Central Developer

Hobby: Machining, Pottery, Rafting, Cosplaying, Jogging, Taekwondo, Scouting

Introduction: My name is Margart Wisoky, I am a gorgeous, shiny, successful, beautiful, adventurous, excited, pleasant person who loves writing and wants to share my knowledge and understanding with you.