How much do you get for winning an Olympic medal?
Thailand has now bagged two medals at the 2020 Tokyo Olympic Games – a gold won by Panipak “Tennis” Wongpattanakit in the womens 49kg taekwondo and a bronze won by Sudaporn “Taew” Seesondee in the women’s 60kg boxing.
Both athletes became millionaires overnight in Tokyo, as Thai medal-winners are awarded prize money from the National Sports Development Fund (NSDF). The awards are 12 million baht for a gold, 7.2 million baht for a silver and 4.8 million baht for a bronze.
Sports Authority governor Kongsak Yodmanee told the Nation-Thailand that the prize money is tax-free and considered a gift for athletes who bring fame to the country and joy to all Thais. They are also considered great role models for future generations.
“Medallists can choose to receive their prize money in two ways. First, they can receive half of the money in cash, and the other half in monthly instalments over four years,” said Kongsak.
“Or they can choose a one-time payment in cash, but in this case the prize money will be reduced to 10 million, 6 million and 4 million baht respectively.”