Both the Hungarian state and the international association pays bonuses to the contenders. Forbes.hu examined the premium of the Hungarian team.
Sport is a vital part of the economy, especially for the entertainment branch. The international association pays enormous fortunes for the contenders to ensure that they keep on popularizing water sports in their world championships. Prize contests provide a driving force to the branch of sports. Contenders may receive reasonable sums even if there is no current world or European championship or Olympics. Moreover, the more prestigious sports events are held, the bigger the profit of swimming is. This sport has gone through a long development from that sense.
Premium played a vital role in the events of FINA World Championships. It is mostly because sports celebrities often skip the world championship after the Olympics. It is not a surprise that FINA paid more for a world record than a gold medal. They were trying to motivate the best contenders to attend the championship in Budapest instead of resting.
FINA’s prizes also show which sports are the more popular, as those receive more premium who participate in sports that concern more people, as they produce more profit. One of the most interesting aspects of comparison is the difference between swimming and water polo.
If someone has become a world champion with a world record in a single event, they receive 50,000 dollars (approximately 42,329 euros) from FINA, while the Croatian water polo team receives 80,000 dollars (67,727 euros) altogether for a gold medal, divided among 13 players.
The Hungarian sports financing system has been changed by the support that can be given through TAO (corporate tax). Swimmers also have advantages concerning institutions, but they cannot receive TAO funds.
Besides the victory premiums of FINA, the Hungarian state also pays for ranks, as it is regulated in a government regulation. The funds award ranking between first and third place. That is the reason why we examined contenders winning a bronze medal at least.
Multiple gold medal winner swimmer Katinka Hosszú received the highest premium with 26,810 euros from the state and 55,766 from FINA. She is followed by silver medal winner Dávid Verrasztó and triple junior world recorder Kristóf Milák, both of which gained 6187 euros from Hungary and 128,692 from FINA. The total prize distributed among Hungarian sports stars was 4,738,707 euros.