The road to international glory can be a tough one financially for Canadian athletes. Training to be the best in the world is one thing, but paying the bills is another. Not only is there living expenses to manage, but there’s also residual coaching, nutritional, educational and medical costs to cover.
The Government of Canada gives $140 million annually for initiatives to promote sport and participation among Canadians. Of that amount, $27 million is put into the Athlete Assistance Program - a fund which gives top-level, Olympic-bound athletes a monthly stipend of $1,500 per month (equivalent to $18,000 per year, tax-free) to support their training.
The corporate community is also involved, contributing approximately $3.5-4 million to athlete programs. Other non-for-profit organizations such as the Canadian Athletes Now Fund do their part, providing athletes with further financial assistance to aid their preparation for international competition.
In your opinion, are Canada’s athletes receiving sufficient funding from the government and corporate community to support their goals of Olympic success? If not, what would you suggest? What would a more appropriate stipend be? Where should this money come from?
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The Government of Canada gives $140 million annually for initiatives to promote sport and participation among Canadians. Of that amount, $27 million is put into the Athlete Assistance Program - a fund which gives top-level, Olympic-bound athletes a monthly stipend of $1,500 per month (equivalent to $18,000 per year, tax-free) to support their training.
The corporate community is also involved, contributing approximately $3.5-4 million to athlete programs. Other non-for-profit organizations such as the Canadian Athletes Now Fund do their part, providing athletes with further financial assistance to aid their preparation for international competition.
In your opinion, are Canada’s athletes receiving sufficient funding from the government and corporate community to support their goals of Olympic success? If not, what would you suggest? What would a more appropriate stipend be? Where should this money come from?
More...