IOA announces purses for Rio medal winners, coaches

Rio de Janeiro: The Indian Olympic Association (IOA) has announced a prize of Rs 50 lakh for every gold medal winner, Rs 30 lakh for silver and Rs 20 lakh for bronze among the Indian participants at the 31st Olympic Games which commence on Friday evening.

This is the first time that IOA has announced such a prize in any Olympic Games. The coach of the winner would be given half the prize. A medallist's coach would thus stand to gain Rs 25 lakh, Rs 15 lakh and Rs 10 lakh, respectively.

This is apart from whatever honour or purse the central or state governments bestow upon an Indian medal winner.

This was announced here after a meeting of the top brass of the IOA which took place in early afternoon.