COLORADO SPRINGS, Colo. (AP) — The U.S. Olympic and Paralympic Committee and its affiliates are creating a fund designed to provide potential 2020 and 2022 Olympians with a stipend to make up for money they’ve lost as a result of the coronavirus pandemic and the postponement of the Tokyo Games.
The USOPC’s fundraising arm is hoping to raise $1 million by the end of the month, all of which will go to eligible athletes. Donations can be made at support.TeamUSA.org/CAAF.
An anonymous supporter launched the fund with a contribution of $500,000, and sponsor Ralph Lauren is donating 25% of the purchase price of some Team USA gear toward the fund.
In a recent survey of U.S. athletes, three-quarters said they’d suffered a loss of income and more than one-quarter said they’ve lost more than half of what they’d been making before.
The fund is the latest effort taken by Olympic organizations to help athletes who are hurting financially because of the pandemic. USA Track and Field, for instance, has created a number of stipend programs that help athletes fund equipment purchases, trips to small domestic meets and health insurance.