- More Sports. Mondo Duplantis has break his own World Record in Pole Vault with a huge 6.27 m jump
- More Sports. Usain Bolt goes from sprinting to the marathon of parenthood with one keyword: 'patience'
The United States Olympic and Paralympic Committee (USOPC) announced a record donation that will provide long-term financial to athletes who are part of the Olympic and Paralympic teams.
Ross Stevens, founder and CEO of Stone Ridge Holdings Group, has donated $100 million to the USOPC that will go toward funding the future of Olympic athletes after their athletic careers. Beginning with the 2026 Winter Olympics in Cortina, U.S. Olympians and Paralympians will receive $100,000 payments and equivalent life insurance benefits.
An athlete will receive $200,000 in benefits for each Olympic or Paralympic Games in which they compete, so if an athlete competes in three Games, they will receive $300,000 in payments and $300,000 in life insurance benefits, a total of $600,000.
Athletes who qualify will be able to access the $100,000 payments 20 years after their Games or when they turn 45, whichever is later. The grant will be paid over four years "and can be used for any purpose, such as starting a business or ing their families."
"The Olympic and Paralympic Games are the ultimate symbol of human excellence," Stevens said in a statement. "I don't believe that financial insecurity should prevent elite athletes in our country from reaching new frontiers of excellence."