66 Days Until The Winter Olympics: New 100K Incentive Is At Stake To Make Team USA
Most realize the extreme sacrifice that athletes make to make an Olympic team. We have heard stories of the early morning workouts, the extreme conditioning, the world travel to compete. But most of us have not thought about the sacrifice they make to their financial future.
After all, training for the Olympics does not come with a 401K.
Finally, that will begin to change starting with the 2026 Winter Games in Milan Cortina.
Make the Team: Make $100,000
This past spring, a groundbreaking new initiative was announced, offering a lifeline that could be more valuable than a medal.
US Olympians and Paralympians will be eligible for a $100,000 retirement award when they make the team. It is a game-changing sum that promises financial stability long after their competitive careers are over. This transformative grant is made possible by a record $100 million donation to the U.S. Olympic and Paralympic Foundation (USOPF). For athletes who often live near the poverty line, this is a monumental shift.
A New Era of Financial Support for Athletes
The financial struggles of amateur athletes in the United States are well-documented. Unlike in many other countries, the U.S. government does not fund its Olympic team, leaving athletes to find their own way.
The dream of competing on the world’s biggest stage often comes at a steep personal cost. Biathlete Deedra Irwin, now 33, understands this struggle intimately. “At the age of 25, 26, I definitely was like: ‘I can’t do this to (my family) anymore. I can’t continue living in my car. I have student loans. I have to get on with my life,’” she said.
This new fund directly addresses this long-standing issue. The $100 million donation, the largest single gift in the foundation’s history, comes from Ross Stevens, the founder and CEO of Stone Ridge Holdings Group. It represents a significant shift in how Team USA can support its athletes holistically.
From United States Olympic & Paralympic Committee Chair Gene Sykes:
“In the heart of every Team USA athlete lies a story of dedication, sacrifice and triumph. These extraordinary individuals have committed their lives to their sport, often at the expense of traditional career paths and financial savings. As they approach the end of their competitive journeys, often as young as 25 or 30, many face a daunting reality: the lack of financial savings to support them and their loved ones in their post-athletic life.”
More Than Just Olympic Money
The pressure to qualify for the Olympics is already immense, but this financial incentive adds a powerful new layer of motivation. With many of the 225 Olympic and 65 Paralympic spots for Team USA still up for grabs, the current World Cup and Qualifying events will be more critical than ever.
For Paralympian Oksana Masters, the grant provides a crucial safety net that athletes have lacked for too long. “As an athlete, you don’t put into a 401K,” she explained. “We don’t have those traditional jobs of paying into that kind of stuff. It’s about time that we’ve done this.”
Terms of the Grant
Here is how the new financial award and benefits will be structured for the athletes:
- $100,000 Retirement Award: Athletes who make a U.S. Olympic or Paralympic team will receive a $100,000 award upon retirement.
- Payment Schedule: The money will be disbursed in four separate payments.
- Disbursement Timing: Payments will not begin until 20 years after an athlete retires, or when they turn 45, whichever date is later.
- Cumulative Benefit: The award accrues each time an athlete qualifies for the Olympics. An athlete who makes three Olympic teams would be eligible for $300,000 in retirement funds.
- Life Insurance: The grant also funds a $100,000 life insurance policy for a beneficiary chosen by the athlete, which also accrues with each Olympic qualification.
