-234Sports
…….$500,000 Signing Bonus, $30,000 Monthly Stipends, And $1 Million Medal Bonuses
Team Nigeria sprinter Favour Ofili and four elite athletes from Jamaica who have opted to switch allegiance to Turkey are expected to be smiling to the bank in the coming days as they are guaranteed huge signing-on-on fees, good monthly stipends and enormous bonuses if they win medals at major games and championships.
Ofili may not be eligible to compete for Turkey until the LA 2028 Olympic Games, but she is getting a good financial deal from Turkey.
Ofili claimed her decision was not driven by financial incentives but by years of frustration over persistent administrative shortcomings by the AFN and the NOC.
A major turning point, she said, was her highly publicised exclusion from the 100m event at the Paris 2024 Olympics despite having met the qualifying standard.
A similar administrative blunder cost her a spot at the Tokyo 2020 Olympics.
While the above excuses are debatable, huge financial gains may have also motivated Ofili’s decision.
According to reports, Ofili and the Jamaican athletes will each receive a staggering US$500,000 signing bonus, US$ $30,000,00 monthly stipends, and potential US$ $1 million medal bonuses.
With this kind of offer, the lines between patriotism and pragmatism are being redrawn in stark fashion.
It is a hard deal to ignore, especially in a sport where post-retirement financial security is almost non-existent.
If Ofili win a medal for Turkey at the LA 2028 Olympic Games, she and her Jamaican counterparts will receive these financial rewards from the government, primarily in the form of 22-karat gold coins.
Gold medalists receive 1000 coins, silver medalists receive 600, and bronze medalists receive 300.
These coins are valued at approximately $383,000 USD each, according to Business Insider.
Additionally, athletes who set Olympic records may receive a bonus. These financial incentives are substantial and serve as a significant motivator for Turkish athletes.
Breakdown of the Awards:
Gold Medal: 1000 gold coins (approximately $383,000 each).
Silver Medal: 600 gold coins.
Bronze Medal: 300 gold coins.
Olympic Record: Additional bonus.
Other potential incentives, monthly pension: Individual gold medalists may also be eligible for a monthly pension equivalent to twice the net minimum wage, according to Forbes.
They will also get endorsements and sponsorships to supplement their income.
-234Sports
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