Big Boost For Scottish Athletes

FarahScottish medallists at the Commonwealth Games will earn a share of a £300,000 funding pool made available by Commonwealth Games Scotland as part of its “Medallist Reward Scheme”.

First introduced for Scottish athletes at the 2010 Commonwealth Games in Delhi, the scheme is designed to kick-start longer term savings and investment planning for athletes once they retire from their high performance sport career.

As part of the scheme, athletes will earn a set prize fund determined by the colour medal they win at the Games, with this money then made available to them on retirement in order to allow for a life after elite sport. The scheme is structured so it complements rather than duplicates existing sources of performance funding.

“The Medallists Reward Scheme is designed to give athletes a boost at that financially uncertain time when they make the often difficult decision to give up competing in their chosen sport,” said Michael Cavanagh, chairman of Commonwealth Games Scotland. “It aims to recognise the sacrifices they have made to pursue their sporting career over the years and reward their achievements on the Commonwealth stage.

Under the Medallist Reward Scheme athletes will receive up to £10,000 for Gold medallists, £5,000 for Silver medallists and £2,500 for Bronze medallists. Multiple medallists will be eligible to receive a single award based on their top medal won.

The maximum total per sport is set at £75,000 which if exceeded, will result in individual athlete amounts being reduced on a pro-rata basis.

The final amount each medal-winning athlete is eligible to receive on retirement will be determined at the end of the Games, according to Commonwealth Games Scotland.

As funds are not released until retirement from elite competition, eligible payments will be held by Commonwealth Games Scotland, with the final amount paid out to the athlete increased annually in line with the Retail Price Index. —insidethegames.biz

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