Vietnam athletes offered $1mn for winning Paris Olympic gold medal

The bonuses, which are the biggest rewards ever offered in Vietnam’s sports history, result from a deal signed by the Vietnam Olympic Committee (VOC) and a strategic partner of the International Sports Funding & Support Association (ISF) in South Korea that will sponsor the entire amount.

As per the agreement, some key Vietnamese athletes and teams will go to South Korea for training.

Dang Ha Viet, general director of the General Sports Administration of Vietnam under the Ministry of Culture, Sports, and Tourism, affirmed the ISF support will create a ‘golden’ chance for Vietnam to elevate its rankings in the regional, continental, and global arenas.

The 2024 Summer Olympics are scheduled to take place from July 26 to August 11, 2024 with Paris as its main host city alongside 16 other French cities.

At the 2020 Tokyo Olympics held in Japan in 2021, Vietnam’s sports authorities had announced rewards worth VND1.85 billion ($79,000), VND1.02 billion ($43,500), and VND640 million ($27,300) for gold, silver, and bronze medalists, respectively.

However, the Vietnamese delegation to the Tokyo Olympics left the Games empty-handed.

At the 2016 Rio Olympics in Brazil, shooter Hoang Xuan Vinh, who won a gold and a silver medal, received VND180 million ($7,675) from the government and bonuses totaling nearly VND5 billion ($213,220) from other sources.

Vietnamese athletes have won only five medals at the Olympics so far. 

Before Vinh, fighter Tran Hieu Ngan had won a silver in taekwondo at the 2000 Sydney Olympics, Hoang Anh Tuan brought home a silver in weightlifting in 2008 in Beijing, and Tran Le Quoc Toan got a bronze in weightlifting at the 2012 London Games.

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Vietnamese athletes will get US$1 million for each gold medal at the 2024 Paris Olympic Games, $500,000 for silver, and $200,000 for bronze.

The bonuses, which are the biggest rewards ever offered in Vietnam’s sports history, result from a deal signed by the Vietnam Olympic Committee (VOC) and a strategic partner of the International Sports Funding & Support Association (ISF) in South Korea that will sponsor the entire amount.

As per the agreement, some key Vietnamese athletes and teams will go to South Korea for training.

Dang Ha Viet, general director of the General Sports Administration of Vietnam under the Ministry of Culture, Sports, and Tourism, affirmed the ISF support will create a ‘golden’ chance for Vietnam to elevate its rankings in the regional, continental, and global arenas.

The 2024 Summer Olympics are scheduled to take place from July 26 to August 11, 2024 with Paris as its main host city alongside 16 other French cities.

At the 2020 Tokyo Olympics held in Japan in 2021, Vietnam’s sports authorities had announced rewards worth VND1.85 billion ($79,000), VND1.02 billion ($43,500), and VND640 million ($27,300) for gold, silver, and bronze medalists, respectively.

However, the Vietnamese delegation to the Tokyo Olympics left the Games empty-handed.

At the 2016 Rio Olympics in Brazil, shooter Hoang Xuan Vinh, who won a gold and a silver medal, received VND180 million ($7,675) from the government and bonuses totaling nearly VND5 billion ($213,220) from other sources.

Vietnamese athletes have won only five medals at the Olympics so far. 

Before Vinh, fighter Tran Hieu Ngan had won a silver in taekwondo at the 2000 Sydney Olympics, Hoang Anh Tuan brought home a silver in weightlifting in 2008 in Beijing, and Tran Le Quoc Toan got a bronze in weightlifting at the 2012 London Games.

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