Each German Olympic champion at Rio to be rewarded 20,000 euros

German medallists at the Rio Olympics will be rewarded to promote the development of talent, the German Sports Aid (DSH) foundation has announced.

According to DSH, the Olympic champion will receive 20,000 euros ($22,556) as prize money, runner-ups 15,000 ($16,917) and bronze medallists 10,000 ($11,278), while finalists will have bonus from 5,000 ($5,639) for the fourth place to 1,500 euros ($1,691) for eighth place finishers, reports Xinhua.

The reward will be used for the Paralympic Games in Rio, from September 7 to 18, and is the same as the one used for the 2014 Winter Olympics in Sochi.

The only exception in Rio are the German men's and women's football teams who will receive a team bonus of 720,000 euros ($8,12,016) from the German Football Association (DFB) if they claim the Olympic champions title.

Michael Ilgner, head of the DSH foundation, said on Monday the bonus is not to "reward Olympic success", but to "promote the development of talent" in preparing for the future.

The DSH paid out a total of 1,336,875 euros ($15,07,727) to Germany's medallists for the 2012 London Olympic Games.

--IANS

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