Athletes across a number of sports will receive bonus payments for medals and world records in international competitions, under an Australian-first program funded by Western Australian billionaire Gina Rinehart.
The Patron’s Medal Achievement Incentive Fund, announced by Mrs Rinehart’s Hancock Prospecting on Sunday, will see Australia’s best athletes and para-athletes across swimming, rowing, volleyball and artistic swimming receive bonuses for success on the world stage.
Athletes will earn $20,000 for gold medals and $30,000 for world records as part of the $3 million fund.
While the fund matches payments paid for successful swimmers, for para-swimmers and rowers the program will reward the sports stars for the first time.
Mrs Rinehart serves as a patron across each of the sports through Hancock Prospecting, supporting close to 150 athletes each year.
Olympics gold medallist and Australian Swimmers Association president Bronte Campbell described the funding as “fantastic”.
“Off the back of Australia’s record-breaking performance at the World Swimming Championships in Fukuoka in Japan, our best international performance, I know that the athletes stood on those blocks feeling so well supported by the long-term direct athlete support that we have received now for over a decade, from Mrs Rinehart, her various foundations and Hancock Prospecting,” she said.
“This additional funding announcement, which is underpinned by existing funding, is fantastic, and we thank Mrs Rinehart for her continued belief and support of us, she is truly unique as a patron of our swimmers.
“Her enthusiastic support and dedication is greatly appreciated by our swimmers and their families.”
Swimmers such as Ariarne Titmus, Kaylee McKeown and Kyle Chalmers who won medals at the recent World Swimming Championships will be paid from the fund in the next fortnight, while future payments will be made within a month of events.
Rowing Australia president Rob Scott said Mrs Rinehart leads the way in supporting Australia’s athletes.
“There is no other patron who has been so generous with both their personal support and advocacy for our athletes, and it has been a great joy to work alongside Mrs Rinehart and see our rower’s performance improve and improve,” he said.
“The financial support Gina Rinehart and Hancock Prospecting has announced, incredibly is on top of the recently reported $60 million investment she has already enabled over the last decade, that supports our fantastic world-class athletes.”
Volleyball Australia president and Australian Olympic Committee director Craig Carracher said Mrs Rinehart supported the athletes to “strive to be their best and represent Australia on the world stage”.
“The Australian Olympic and Paralympic movement recognise Gina Rinehart’s momentous contribution and the outstanding role model she is for many athletes.
“It has been a great pleasure working with her supporting our athletes and witnessing them develop from strength to strength.”
Artistic Swimming Australia’s Brian Millar said Mrs Rinehart’s generosity had enabled the sport to continue to grow in Australia.