Jamaica’s medalists and coaches from the Tokyo Olympics will be the beneficiaries of an ‘Olympic Rewards Programme’ worth J$41 million for the country’s athletes who won medals, courtesy of the Jamaica Olympic Association (JOA) and two of its key sponsorship partner, Supreme Ventures Limited, through the Supreme Ventures Foundation and Mayberry Investments.

Under the programme, a gold medalist gets a J$6 million reward; a silver medal equates to a J$4 million reward while and a bronze medal winner will be rewarded with J$2 million.

A similar amount will be maintained for the relays. However, there is a major difference in that the amount will be divided equally among the participants. So, J$6 million will be shared among members of Jamaica’s first-placed 4x100m women’s team that won the gold medal while for the women’s 4×400 metres relay team that placed third, J$2 million will be shared among the members of the squad.

Coaches will also be rewarded for their work, with J$1 million for an athlete who won a gold medal, $750,000 for an athlete placing second to win a silver medal and $500,000 for a third-place bronze medal finish by their athlete.

As part of the wider package, which seeks to safeguard funding for the athletes until their retirement phase, the J$41 million in rewards will go towards investment accounts at Mayberry Investments for each medalist and coach whose athlete earned an individual medal.

The funds will be under management at Mayberry Investments for a period of three years, or until the athlete’s retirement from track and field, whichever is earlier.

At the end of the period, the athlete can decide whether they would like to cash in their investments or maintain their accounts.

The rewards programme, JOA President Christopher Samuda said is part of a broader vision of the association.

“For the Jamaica Olympic Association this partnership represents critical aspects of our vision for the future of the business of sport and emphasizes our conviction that the lives of athletes and coaches matter beyond the present,” Samuda said. 

“The Jamaica Olympic Association, Supreme Ventures Limited and Mayberry Investments Limited have come together in an investment trilogy, at the heart of which are Jamaica’s athletes and coaches and the strategy of which resides in financial prudence and security.”

In announcing their contribution, the Supreme Ventures Foundation announced that they “will be rewarding the athletes that medaled at the recently-concluded Olympic Games in Tokyo to the tune of $30 million”.

“We are incredibly proud of all athletes who have ever represented Jamaica on the world stage, and we are grateful to have this opportunity to reward this year’s cohort of medalists,” said Peter McConnell, Chairman, Supreme Ventures Foundation.

“The Supreme Ventures Foundation is committed to rewarding high performing Jamaicans from all cross-sections of our society and we see this as not just a one-time, short-term reward, but a longer-term gift with the potential to grow.”

The chairman went on to congratulate all athletes for making Jamaica proud and bringing some joy back to the country during these challenging times of a pandemic.

The package will be supplemented by additional contributions of $6 million from Mayberry Investments and $5 million from the JOA.

“Mayberry wishes to congratulate all the athletes that represented us at the Olympics and all of the people who worked so hard to make this national effort yet another success,” said Christopher Berry, Executive Chairman, Mayberry Investments Limited.

Secretary-General/CEO of the JOA, Ryan Foster, said they and their partners are proud to be contributing in this way.

“The Jamaica Olympic Association is extremely proud to be part of this Olympic Reward Programme with our partners Supreme Ventures Ltd. and Mayberry Ltd. We believe that all our athletes are achievers by virtue of the sacrifices that they have made to represent their country and their own brand,” said Foster.

“This reward programme was not only centred around rewarding excellence in the present but has an element of continuity which will pay dividends to all awardees after they would have completed their careers in sport.”

Samuda shared that their goals are geared towards athlete development and long-term plans.

“At the commencement of the initial term of my administration in 2017, we signalled that for the JOA it would be ‘business unusual’,” Samuda reminded. “This partnership not only represents ‘business unusual’, but embodies ‘business empowerment’ for the JOA, SVL and MIL are investing today in the primary stakeholders of sport in securing for them tomorrow’s invaluable dividends. The game plan we have for sport is simple: assess, invest, re-value and reward.

 “The JOA has ensured that the often-overlooked coaches are included in this historic reward plan, making sure that their hard work in preparing athletes for excellence, and the investment and sacrifice that they have made to help them self-actualize is tangibly recognized.

“We cannot thank enough the coaches who over the years have made an indelible mark on track and field. We salute you. Sport for all, all for sport,” he said.