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Monday, August 15, 2022
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Joseph Schooling to become overnight millionaire

 

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After Joseph Schooling broke the Olympic record time of 50.39sec and won his gold medal for Singapore gets to keep his SGD1million prize money.

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To reward award winning competitors, a motivation plan was formulated by the Singapore National Olympic Council (SNOC) in the 1990s. The Multi-Million Dollar Award Program (MAP) gives a money payout to competitors who win medals at the Olympics, Asian, Commonwealth and SEA Games.

In a report by American television network CBS, “student-competitors are not allowed to be paid”, under National Collegiate Athletic Association rules. As a Singaporean Joseph Schooling is exempted.

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