15 Million Baht For Gold

[mrt273nva]

My wife tells me that the Thai government gives Thai Olympic contestants 15 million baht if they win a gold medal. Is this true? If it is true, is it legal? I always thought that the Olympics was an amateur event and that awarding prize money was strictly forbidden. Sure the winners can use their success for financial gains by other means such as sponsorship after the fact, but I always thought prize money was a no no.

Does anyone know?

[BEENTHEREDONETHAT]

The way I understand it all are professional with the exception of Boxing, soccer and baseball. It changed from amature over 20 years ago.

[Checker]

No such thing as an amateur event anymore. The Olympics have been open for years. Can you imagine the American basketballers participating for no fee ?

[Kerryd]

I'm not sure of the amount, but yes, many countries reward their athletes when they win medals. Been going on for years.

The Olympics is hardly an amateur event anymore and hasn't really been for years either. Pro basketball players, tennis stars and others compete regularly. Other athletes are essentially paid though sponsors and endorsements. I think the kicker towards the Olympics becoming a pro event was the Soviet Union. Many (all ?) of their top athletes were enlisted in the military, but all they did was train for their sporting event.

Then more and more athletes were getting endorsements after winning various comptetitions, and getting sponsored by different organizations so that they were essentially also being paid to practise and compete. Just a small step from there to allowing people that actually earn their living from their profession (hockey/basketball/football/etc) to compete.

[mrt273nva]

No such thing as an amateur event anymore. The Olympics have been open for years. Can you imagine the American basketballers participating for no fee ?

they get paid by their sponsors but i don't think the US government gives them a dime. at least i hope not.

as for Thailand giving prize money and its legality in accordance with the Olympic Commission???

15 Million Baht per gold medal winner regardless of the sport. Legal or not?

[BEENTHEREDONETHAT]

No such thing as an amateur event anymore. The Olympics have been open for years. Can you imagine the American basketballers participating for no fee ?

Don't believe there has been a professional boxer in the olympics. May have turned professional after olympics but not before.

[Johpa]

I'm not sure of the amount, but yes, many countries reward their athletes when they win medals. Been going on for years.

But few countries have matched the actions of some higher ranking Thais who have attempted to abscond, well they claimed to have borrowed, an athlete's gold medal. Fortunately higher ups quashed the man's attempts at doing a Saudi gem switcheroo.

[joskydive]

My wife tells me that the Thai government gives Thai Olympic contestants 15 million baht if they win a gold medal. Is this true? If it is true, is it legal? I always thought that the Olympics was an amateur event and that awarding prize money was strictly forbidden. Sure the winners can use their success for financial gains by other means such as sponsorship after the fact, but I always thought prize money was a no no.

Does anyone know?

I've just been informed by my husband that it 30million baht if they win a gold medal and that was just after I watched the flyweight boxing which the Thai won.

[Boater]

My wife tells me that the Thai government gives Thai Olympic contestants 15 million baht if they win a gold medal. Is this true? If it is true, is it legal? I always thought that the Olympics was an amateur event and that awarding prize money was strictly forbidden. Sure the winners can use their success for financial gains by other means such as sponsorship after the fact, but I always thought prize money was a no no.

Does anyone know?

I've just been informed by my husband that it 30million baht if they win a gold medal and that was just after I watched the flyweight boxing which the Thai won.

Its an Incentive, doesnt harm anyone, and is very good PR for Thailand........

[Travel2003]

No such thing as an amateur event anymore. The Olympics have been open for years. Can you imagine the American basketballers participating for no fee ?

Don't believe there has been a professional boxer in the olympics. May have turned professional after olympics but not before.

Actually, the Cubans are still what was sometimes called "state pro's" during the Soviet (and Warsaw pact) era.

They train and compete in their sports year around, paid fully by the state, with some sort of position on the paper from the Army, etc.

The hockey lovers might remember all the fantastic russian amateurs that all played for their army and navy teams back then.

[lifeisrandom]

None of these guys would last 30 seconds with a world champion. olympics baseball/football/basketball/boxing is largely a joke.

[Travel2003]

None of these guys would last 30 seconds with a world champion. olympics baseball/football/basketball/boxing is largely a joke.

Not sure what you mean by lasting for 30 seconds. If it was the boxers. They are pro's nomatter how good/bad they are.

Anyhow,

as a football lover, it annoys me to see some of the nations topping up their teams with some of their best young pro's.

Pathetic.

As for the Olympics, I think it is a huge waste of money to just try to show off the host nation. Not to mention the corrupt Olympic committee.

[Maigo6]

None of these guys would last 30 seconds with a world champion. olympics baseball/football/basketball/boxing is largely a joke.

Apart from ...................................

Muhammed Ali ( Cassius Clay ), Joe Frazier, George Foreman, Sugar Ray Leonard, Oscar de La Hoya... Olympic Champions who became World Champions.

Some of the greatest pro boxers of all time.

Edited August 23, 2008 by Maigo6

[lifeisrandom]

hoya won when he was 19

[teacup]

I don't know anything from the thai gov't side. But accordng to the thai newspaper "Somjit - gold boxer" will be getting around 10 mil bts from all his sponsors - so far

[Mossfinn]

hoya won when he was 19

Clay ( Ali ) when he was 18, So?

[Nignoy]

its only fair they be rewarded for their success, they train long and work hard, the Thai boxers future is guaranteed within the next 4 weeks he will be approached by Australian boxing officials and offered Australian citizenship!! so he can represent australia in the next olympics, Remember the scandal when UK did it with zola budd many years ago. it is common practise with many countries these days, not got a gold medalist in a particular sport , Go out and buy one, Once again this is not a dig at Australia!!! its just the way of the world today

[JetsetBkk]

Why isn't Takraw an Olympic event? It's a dàmn site more of a sport than walking, beach volleyball, ping-pong, handball, synchronised swimming, synchronized diving, rhythmic gymnastics, etc, etc.

Walking is such a ridiculous sport. What's the point of walking fast? You may as well have an event of who can whisper the loudest.

[Kerryd]

Why isn't Takraw an Olympic event? It's a dàmn site more of a sport than walking, beach volleyball, ping-pong, handball, synchronised swimming, synchronized diving, rhythmic gymnastics, etc, etc.

Even better if they use the wicker ball.

I remember an article a couple years ago, where these people claimed to have come up with a new sport. All it was was Tak Raw, but using a volleyball instead of a wicker ball.

Walking is such a ridiculous sport. What's the point of walking fast? You may as well have an event of who can whisper the loudest.

There are quite a few events that should be dropped. I'm glad they haven't added Ballroom Dancing to the Olympics (yet). It seems every year they try to get it listed and fail.

[Heng]

It's all good. It's not a cure all, but having some athlete role models is a good thing for Issan, where most Thai athletes hail from.

[Crushdepth]

Its an Incentive, doesnt harm anyone, and is very good PR for Thailand........

I think its good to give these poor bastards who have dedicated their childhood to becoming the *best* underwater basket weaver or whatever a bit of cash in addition to the recognition. Not sure what their post-sport career prospects are like.

[lomatopo]

I have read, and/or heard, figures like "13 million baht" and "$292,000" (USD), being given outright to the winner(s) of an Olympic Gold medal. The money is given after the athletes return from the Olympics. I've also heard that there may be a total pool that gets divided so maybe with only two Gold Medal winners each one might get closer to 20 million baht. Estimates for additional income, from endorsements and personal appearances, range from 50% - 100% on top of the prize. Based on a few articles I've read this is one of the largest incentives offered worldwide.

Each sport has a governing body or organization, which sets the requirements for Olympic athletes. So FIFA (soccer) allows under age 23, with three "open" (any age) slots per team; FIBA (basketball) allows any/all professionals; the International Amateur Boxing Association allows amateurs only, etc.

Sepak Takraw is played in the Asian Games.

Edited August 24, 2008 by lomatopo

[lifeisrandom]

hoya won when he was 19

Clay ( Ali ) when he was 18, So?

the Thai boxer who won (not to take anything away friom him) is 33.

the structure of boxing in the olympics has changed since clay and sugar ray were doing it. i dont think you will see many olympians turned multi million dollar world champions these days.

gl.

[Travel2003]

I'm glad they haven't added Ballroom Dancing to the Olympics (yet). It seems every year they try to get it listed and fail.

True, but the dancers train extremely hard. They are in a much better condition as many of the other so called sports in the Olympics.

[JetsetBkk]

Its an Incentive, doesnt harm anyone, and is very good PR for Thailand........

I think its good to give these poor bastards who have dedicated their childhood to becoming the *best* underwater basket weaver or whatever a bit of cash in addition to the recognition. Not sure what their post-sport career prospects are like.

Play cards, lose money, back to rice farm.

[lifeisrandom]

^ and being supported by a farang who married into the family!

[slapout]

The money given for medals will most likely be used to stimulate the local businesses. If history repeats itself a substantial amount will end up in the hands of bookies, boy/girl friends and family.

[Heng]

i dont think you will see many olympians turned multi million dollar world champions these days.

He'll never be a world champion, but his meal ticket is punched for life. There's no reason, other than piss poor personal management of his life and finances, that he shouldn't be completely comfortable for the rest of his days.