US Olympic Committee Secures Historic Deal with Ross Stevens for $100M Retirement Fund
In a major coup for American athletes, financier Ross Stevens has pledged a whopping $100 million to provide post-Olympic retirement benefits to Team USA athletes. Starting with the upcoming Milan Cortina Olympics, all participating American Olympians and Paralympians will be eligible for a share of this generous gift.
As part of the deal, the U.S. Olympic Committee (USOPC) will create the Stevens Financial Security Awards, which will offer athletes $200,000 or more in retirement funds. This windfall is expected to boost the financial stability of athletes and provide them with long-term security after their competitive careers come to an end.
Historically, American athletes have not received significant financial compensation beyond cash prizes for medalling. However, this new initiative aims to change that narrative. The Stevens Awards will offer athletes a safety net of $100,000 either 20 years after their initial qualifying Games or when they turn 45 years old, whichever comes later.
The program also includes a "multiplier effect" clause, which applies the retirement benefits to each Olympic or Paralympic Game an athlete participates in throughout their career. This means that athletes who compete multiple times could receive significantly more than the initial $200,000, potentially earning upwards of $600,000.
Notably, this is the first time Team USA will receive a pension plan under the Stevens Awards. The initiative joins a growing trend globally, with countries like Russia and China providing retirement stipends to Olympians, as well as South Korea's lifetime monthly pensions for medalists.
While some athletes may earn substantial amounts through sponsorships and other means, many others struggle financially after their careers end. The Stevens Awards aim to bridge this gap by supporting athletes who require financial assistance.
By securing this deal, the USOPC has taken a significant step towards ensuring the long-term financial well-being of its athletes. As Team USA takes to the ice and track in Milan Cortina, they will be represented not only by their national pride but also by a pioneering initiative that promises to provide them with a brighter future beyond their competitive careers.
In a major coup for American athletes, financier Ross Stevens has pledged a whopping $100 million to provide post-Olympic retirement benefits to Team USA athletes. Starting with the upcoming Milan Cortina Olympics, all participating American Olympians and Paralympians will be eligible for a share of this generous gift.
As part of the deal, the U.S. Olympic Committee (USOPC) will create the Stevens Financial Security Awards, which will offer athletes $200,000 or more in retirement funds. This windfall is expected to boost the financial stability of athletes and provide them with long-term security after their competitive careers come to an end.
Historically, American athletes have not received significant financial compensation beyond cash prizes for medalling. However, this new initiative aims to change that narrative. The Stevens Awards will offer athletes a safety net of $100,000 either 20 years after their initial qualifying Games or when they turn 45 years old, whichever comes later.
The program also includes a "multiplier effect" clause, which applies the retirement benefits to each Olympic or Paralympic Game an athlete participates in throughout their career. This means that athletes who compete multiple times could receive significantly more than the initial $200,000, potentially earning upwards of $600,000.
Notably, this is the first time Team USA will receive a pension plan under the Stevens Awards. The initiative joins a growing trend globally, with countries like Russia and China providing retirement stipends to Olympians, as well as South Korea's lifetime monthly pensions for medalists.
While some athletes may earn substantial amounts through sponsorships and other means, many others struggle financially after their careers end. The Stevens Awards aim to bridge this gap by supporting athletes who require financial assistance.
By securing this deal, the USOPC has taken a significant step towards ensuring the long-term financial well-being of its athletes. As Team USA takes to the ice and track in Milan Cortina, they will be represented not only by their national pride but also by a pioneering initiative that promises to provide them with a brighter future beyond their competitive careers.
I mean, who doesn't want a nice chunk of cash after they hang up their sports gear? 
It's about time the USOPC stepped up and started taking care of its athletes' financial future, you feel? 
This $100M deal with Ross Stevens is like, a game changer for Team USA. I'm talking about the whole package - $200K+ in retirement funds + multiplier effect = major wins all around! 
The fact that this initiative is part of a global trend is also super cool. Countries are finally starting to recognize the importance of supporting their athletes after they retire. It's about time we put our money where our mouth is, you know? 
100M from Ross Stevens is insane! I'm so hyped for all the athletes who are gonna benefit from this 
it's about time we see some financial security for our athletes, they've given everything to represent their country and now they get a safety net to live comfortably after retirement 
just saw this news and i'm low-key impressed the us olympic committee just scored a huge deal with ross stevens to give athletes a solid $100m retirement fund 
) is really commendable.
. I mean, can you imagine having to choose between pursuing your passion and making ends meet? It's just not fair 
. The fact that Ross Stevens is putting his money where his mouth is is genuinely inspiring 
. Now, let's see this deal make a real difference in the lives of these amazing athletes 
.
I'm kinda stoked about this news, but also super skeptical. A $100 million retirement fund from Ross Stevens is definitely a game-changer, and it's awesome that the USOPC has scored such a huge deal. But, like, how sustainable is this? Are we just setting ourselves up for another big sponsorship fail down the line? 
. The multiplier effect clause is also genius - it shows they're thinking about the athlete's long-term future 
. I hope this sets a precedent for other countries and sports organizations to follow suit 
anyway, I was reading this news about the US Olympic Committee getting $100 million for retirement funds and I thought it's kinda cool that Ross Stevens is helping out American athletes. But, um, what's the deal with the "multiplier effect" clause? Like, if an athlete competes multiple times, they get more money? That sounds like a lot of extra cash 
Money isn't everything, but having some can make life so much better. 
For so long, athletes have been expected to just 'figure it out' when they retire, but that's not exactly fair 
We're seeing this trend popping up globally now, but it's awesome to see the USOPC taking the lead on this one 
and it's great that the USOPC is taking steps to support them. but what about those who can't earn as much through sponsorships? are we gonna see a change in how sponsorship deals work too? 
This is like, finally! I mean who doesn't love a good pension plan? You know what they say "retirement" means... just kidding kinda 
! On a more serious note, this is huge for the USOPC and Team USA. It's about time we took care of our athletes, especially since sponsorships aren't always stable 
.
It's about creating a safety net for these athletes so they can focus on their post-Olympic lives without worrying about money. And let's be real, it's not just about the benjamins - it's about giving them peace of mind and stability after their competitive careers are over. 
The multiplier effect clause is genius too! 
Can't wait to see how this program plays out and what impact it has on the athlete community