Zimbabwe’s only Olympic medalist, Kirsty Coventry, was handed a $100,000 in cash following her Olympic win… Why? President Robert Mugabe instituted an incentive program to motivate the country’s athletes.
About Kristy, he noted, "Our national spirit must exude joy and pleasure and say you have done well, daughter of Zimbabwe. We are proud of you, we wish you well. She’s our golden girl ... take care of her."
Take care of her? That’s right… Despite the fact that she swam for Zimbabwe, the swimmer is actually based in the U.S. Accordingly, the monetary reward comes with a little bit of controversy.
Despite Zimbabwe’s struggling economic conditions, Kirsty Coventry was awarded a big briefcase of cash while other Zimbabwe athletes were rewarded between $2,000 and $10,000 for their participation.
Zimbabwe isn’t the first country to provide a monetary incentive, but it might be one of the poorest.
Having said that, in a country like Zimbabe, there are less opportunities for athletes to obtain sponsorship funding leading up to the games. Athletes in these countries also lack the juicy endorsement contracts that reward athletes in richer countries.
The only kicker, is that THIS particular incentive went to Kirsty Coventry, an American resident.
Athlete Rewards
Why Did Kirsty Coventry Get a $100,000 Briefcase of Cash?
Trend Themes
1. Monetary Incentives for Athletes - There is an opportunity for businesses to partner with countries or individual athletes to offer monetary incentives for successful performances in sporting events.
2. Sponsorship Funding for Athletes in Low-income Countries - There is an opportunity for businesses to invest in athlete's sponsorship in low-income countries and offer financial support to athletes who might not have the financial backing to obtain training and equipment.
3. Incentivizing Positive National Recognition - There is an opportunity for businesses to incentivize positive recognition as motivation for national Olympic teams by rewarding athletes and coaches that obtain a better position in world competition or lead to positive representation on the world stage.
Industry Implications
1. Sporting Goods and Equipment - There is an opportunity for sporting goods manufacturers to invest and provide equipment and materials to emerging athletes in under-resourced communities to encourage their physical training to the advanced level.
2. Corporate Social Responsibility (CSR) - There is an opportunity for companies to adopt corporate social responsibility(CSR) strategies by investing in the training and sponsorship of young athletes and being involved in the positive recognition to better in sports events.
3. Financial Services - There is an opportunity for financial institutions to invest in sportspeople, by offering training loans, insurance policies to those that can't afford the professional equipment and travel expenses needed to compete globally.