If Montenegrin athletes secure medals at the Paris Olympic Games, they stand to gain substantial financial rewards and the entitlement to a lifetime monthly allowance.

The Ministry of Sports and Youth has informed Forbes Montenegro that athletes will receive the following bonuses based on their achievements at the Olympic or Paralympic Games:

• €35,000 for a first-place finish,
• €30,000 for second place,
• €25,000 for third place.

“Athletes who are Montenegrin citizens and represent Montenegro will have their bonuses for finishes in the Olympics determined by a decree concerning the criteria for establishing the amount of lifelong monthly compensation, scholarships, bonuses, sports disability benefits, awards for athletes of the year, and deserving sports workers,” explained a spokesperson from the ministry.

Apart from the aforementioned awards, athletes may receive the status of elite athletes if they achieve outstanding results in the Olympic Games.

“Athletes gain the status of elite athletes if they represent Montenegro and secure a first, second, or third place in an individual or team competition at the Olympic Games. Athletes with elite status are entitled to a lifetime monthly allowance after they turn 35,” the Ministry elaborated.

The lifetime monthly compensation for athletes with elite status, in line with the Law on Sport, is as follows:

• Two average monthly net salaries in Montenegro for a first-place finish in the Olympic or Paralympic Games, and
• One and a half average monthly net salaries for second and third place finishes at the Olympic or Paralympic Games.

At the Olympic Games, Montenegro had 19 representatives in individual disciplines, including tennis player Danka Kovinic, sailor Miliva Kuljač, and others. Unfortunately, none of the competitors achieved notable results.

According to the Montenegrin Olympic Committee (COK), since regaining independence, only the handball team has brought home a medal from the Olympics, securing a silver in the 2012 London Games.

Water polo athletes have come close to winning medals three times, finishing in fourth place at the Olympic Games.

As the Paris Olympic Games commenced, Forbes reached out to national sports organizations of all 206 participating countries and territories, confirming that at least 33 states plan to distribute cash rewards to athletes returning with medals. Among these nations, 15 have indicated that gold medalists will receive over $100,000.

Hong Kong leads this group, awarding $768,000 to its gold medalists, a considerable sum given that only two athletes from Hong Kong have won gold in the territory’s 17 Olympic appearances. Their silver medal award is also noteworthy, exceeding offers from 32 other countries at $380,000. In contrast, Israel and Serbia will reward their gold medalists with $275,000 and $218,000, respectively, with all three countries having achieved gold in the Tokyo 2021 Olympics.

The Olympic Games in Paris are set to run from July 26 to August 11.