Cash award for Olympics athletes increased

The cash award for an athlete winning gold in Tokyo Olympic Games will be increased to HK$5 million, Chief Executive Carrie Lam Cheng Yuet-ngor announced today. 

The increase in prize money for the Athlete Incentive Awards Scheme was made during the flag presentation ceremony at Government House for the athletes who would participate in the mega event. 

Athletes who managed to a gold medal in individual events would win HK$5 million, Lam announced. Silver and bronze medalist would win HK$2.5 million and HK$1 million respectively. Athletes who won gold medals in group events will gain HK$10 million. 

Lam said that 46 athletes would compete in 14 sports and 38 events, which is the best record in the city's history. She stated that the government has been giving considerable resources to local sports, including sponsoring the Hong Kong Sports Institute with HK$700 million.

The chief executive added that she is happy that the athletes and public welcome the government's decision to purchase the broadcasting rights of the Olympics, allowing television broadcasters in the city to broadcast the events for free.