Canadian Athletes to Receive Boost in Podium Prize Money for Paris Olympics

In a significant gesture of support for Canadian athletes, health-care technology entrepreneur Sanjay Malaviya has announced a generous increase in podium prize money for medallists at the upcoming 2024 Olympic Games in Paris. Here are the key details:

1. Increased Prize Money:

   • Malaviya’s donation will elevate the value of gold, silver, and bronze medals for Canadian athletes, with gold now worth $25,000, silver $20,000, and bronze $15,000.
   • This initiative aims to recognize and reward the outstanding achievements of Canadian athletes on the world stage, providing them with additional financial support and encouragement.

2. Continuation of Awards:

   • The Team Canada Podium Awards, initiated by Malaviya, will extend to both the Paris Games and the 2026 Winter Games in Milan-Cortina, Italy.
   • These awards complement the existing prize money provided by the Canadian Olympic and Paralympic committees, further bolstering the financial assistance available to athletes.
3. Support for Athletes:
   • Malaviya’s commitment underscores his dedication to directly benefitting athletes, ensuring that the funds contribute directly to their well-being and success.
   • His contributions have been widely appreciated by Olympians and Paralympians, highlighting the positive impact of such initiatives on the sporting community.
4. Philanthropic Endeavors:
   • Beyond prize money, Malaviya has demonstrated his commitment to supporting Canadian athletes through various initiatives, including contributions to NextGen athletes and an endowment fund for Paralympians.
   • His philanthropic efforts, totaling over $6 million since 2022, have been instrumental in providing athletes with the resources they need to excel on their journey to the podium.
5. Recognition and Appreciation:
   • Malaviya’s contributions have been praised by leaders in the sports community, emphasizing his role as a significant donor and supporter of Team Canada athletes.
   • Jacqueline Ryan, CEO of the Canadian Olympic Foundation, lauds Malaviya’s dedication to nation-building and his belief in the transformative power of sports.

Sanjay Malaviya’s generosity and commitment to Canadian athletes serve as a testament to the values of resilience, persistence, and unity embodied by Olympians and Paralympians. As preparations for the Paris Olympics continue, his contributions stand as a beacon of support for athletes striving for excellence on the global stage.