Philanthropist Ross Stevens has made a landmark $100 million donation to the US Olympic and Paralympic Committee to establish a financial security fund for athletes transitioning post-competition. This initiative, the Stevens Awards, provides substantial benefits of up to $600,000 for three-time participants, countering the limited financial support that most athletes receive. While a few prominent athletes enjoy lucrative sponsorship deals, the majority struggle with financial instability. The USOPC emphasizes the transformative nature of this fund, highlighting its role as a springboard for athletes' futures alongside financial safety.
Ross Stevens' $100 million donation establishes unprecedented financial support for Olympic and Paralympic athletes, offering post-retirement funds to honor their sacrifices while competing for Team USA.
The Stevens Awards aim to honor athletes' sacrifices by providing them with financial stability and support as they transition from competition to their post-sport careers.
While top athletes may gain lucrative sponsorships, about 90% of Team USA athletes live paycheck to paycheck, underscoring the need for financial support for all competitors.
The US Olympic and Paralympic Committee recognizes that this donation not only serves as a financial safety net but also empowers athletes to achieve greater success beyond the Games.
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