Thai cash incentives

THAILAND IS offering large monetary incentives for its athletes to win Olympic medals, but to be paid in monthly instalments over a period of several years to stop them from spending it irresponsibly.

Gold medallists will earn more than 200,000 euros, silver medal winners will take around 120,000 euros, while a bronze is worth around 80,000 euros.

However, half of the money will be paid over a 20-year period to prevent Thai Olympians, many of whom are from poor backgrounds, from frittering it away.

“We don’t want them to spend it all at once, they might need this money when they get old,” Thai Olympic committee member Charoen Wattanasin told Reuters news agency.