![Prize money for Olympic gold medals by governments](https://i.dawn.com/primary/2024/08/66b95123efdb6.gif)
Arshad Nadeem should now be able to afford a new javelin, thanks to the substantial prize money announced by the government and various individuals. A story circulating in the media highlights his struggle to buy a new javelin in the run-up to his current glory.
According to a Reuters article, in the early days the javelin thrower used sticks with iron tips to practice and lifted weights made from iron rods, old canisters and concrete.
Converted from rupees, about half a million dollars of prize money have been announced by the government. Additionally, the World Athletics Federation has announced $50,000 and various individuals have announced several million rupees, along with a ‘gold crown’, a house and a solar system, as per media sources. The gold medalist should be able to finally access facilties worthy of his talent.
Countries often announce significant prize money for their Olympic athletes to incentivize victories. For example, India announced $90,000 along with an additional $120,000 from the Indian Olympic Association.
While Pakistan did not do so before the event — likely because a gold medal seemed improbable — Arshad Nadeem’s triumph has brought immense pride to the nation. It is fitting that Pakistan’s prize money is now among the highest in the world, reflecting the joy and honour he has bestowed on the country.
Published in Dawn, The Business and Finance Weekly, August 12th, 2024
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