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Canadian businessman boosts Canadian medallists' money in Paris

Canada's medallists in Paris will get a bump in podium prize money.

Canadian health-care technology entrepreneur Sanjay Malaviya of Hespeler, Ont. has renewed his grants of $5,000 per medal, which he gave retroactively in 2022 to Canada's Olympic and Paralympic medallists in Beijing's Winter Games that year, and in Tokyo's Summer Games in 2021.

The continuation of his Team Canada Podium Awards at both the Paris Games and the 2026 Winter Games in Milan-Cortina, Italy, adds to the $20,000 for gold, $15,000 for silver and $10,000 for bronze given to medallists by the Canadian Olympic and Paralympic committees.

That donation will make a gold medal worth a total of $25,000, silver $20,000 and bronze $15,000 to athletes.

Malaviya also committed $4 million to a fund that will financially reward Canada's Paralympic medallists for the first time, and at the same level as Olympic athletes who have received medal bonuses since 2006.

The 2024 Olympic Games open July 26 and close Aug. 11 followed by the Paralympic Games from Aug. 28 to Sept. 8