Jamaica's Olympic medalists to benefit from J$41m 'rewards programme'

By August 25, 2021

Jamaica’s Olympic medalists and their coaches are set for a financial windfall under what the Jamaica Olympic Association has dubbed an ‘Olympic Rewards Programme’ worth J$41 million. The Jamaica Olympic Association (JOA) contributed $J5m to the programme while Supreme Ventures Foundation and Mayberry Investments, contributed JS30m and J$6m, respectively.

One US dollar is approximately J$155.

The money is to be placed in individual investment accounts at Mayberry Investments for a period of three years or until the athlete’s retirement from track and field, whichever comes first. At the end of the period, the athlete decides whether to cash in their investments or maintain his or her account.

Under the programme, a gold medalist gets J$6 million, a silver medalist gets J$4 million while a bronze medal winner will be rewarded with J$2 million.

A similar amount will be maintained for the relays but for the relay gold medalists, the J$6 million will be shared among members while for the women’s 4x400 metres relay team that placed third, J$2 million will be shared among the members of the squad.

Coaches will also be rewarded for their work. J$1 million will go to a coach whose athlete won a gold medal, $750,000 for the coach whose athlete won a silver medal and $500,000 for the coach whose athlete won a bronze medal.

The rewards programme, JOA President Christopher Samuda said is part of a broader vision of the association.

“For the Jamaica Olympic Association this partnership represents critical aspects of our vision for the future of the business of sport and emphasizes our conviction that the lives of athletes and coaches matter beyond the present,” Samuda said. 

“The Jamaica Olympic Association, Supreme Ventures Limited and Mayberry Investments Limited have come together in an investment trilogy, at the heart of which are Jamaica's athletes and coaches and the strategy of which resides in financial prudence and security.”

Meanwhile, Peter McConnell, Chairman, Supreme Ventures Foundation, praised the athletes for their success. “We are incredibly proud of all athletes who have ever represented Jamaica on the world stage, and we are grateful to have this opportunity to reward this year’s cohort of medalists,” he said.

Similar sentiments were expressed by Christopher Berry, the Executive Chairman of Mayberry Investments Limited.

“Mayberry wishes to congratulate all the athletes that represented us at the Olympics and all of the people who worked so hard to make this national effort yet another success,” he said.

Elaine Thompson won gold medals in the 100m, 200m and 4x100m  at the Olympic Games while Hansle Parchment won gold in the 100m hurdles. Meanwhile, Shelly-Ann Fraser-Pryce won a silver medal in the 100m and a gold medal as a member of the 4x100m team. Shericka Jackson won a bronze medal in the 100m and gold as a member of the 4x100m that also included Briana Williams. Natasha Morrison and Remona Burchell were alternates.

Megan Tapper won a bronze medal in the 100m hurdles.

Jackson, Candice McLeod, Roneisha McGregor, Tovea Jenkins, Junelle Bromfield and Stacy-Ann Williams comprised the 4x400m relay squad.

 

 

Leighton Levy

Leighton Levy is a journalist with 28 years’ experience covering crime, entertainment, and sports. He joined the staff at SportsMax.TV as a content editor two years ago and is enjoying the experience of developing sports content and new ideas. At SportsMax.tv he is pursuing his true passion - sports.

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