The Summer and Winter Olympics are a worldwide spectacle generating millions of dollars, but that doesn’t trickle down to the Olympians themselves. Olympians have often resorted to selling personal belongings or GoFundMes to mitigate costs, but that might soon change for some US Olympians and Paralympians. However, fans aren’t too happy with the strings attached.

Last year, billionaire Ross Stevens made a $100 million donation to the United States Olympic & Paralympic Committee to create a program that supports Olympians who retire young with little savings and no government funding.

“I do not believe that financial insecurity should stop our nation’s elite athletes from breaking through to new frontiers of excellence,” said Ross.

However, there’s a certain limit to it. The program’s eligibility extends only to athletes who earn less than $1 million annually. This is to ensure that the funds are allocated to those who need them the most.

Indeed, for many athletes, this initiative is life-changing. Each athlete will receive $200k for each Olympic cycle. If not everyone, there are a lot of Olympians and Paralympians who go experience funding and financial issues. Now, an athlete who competes in three Olympic cycles will be eligible for a total of $600,000 in benefits.

When the original announcement was made last year, even Olympic gold medalist Michael Johnson praised the billionaire’s effort, saying, “This is what smart, sustainable support looks like! Team USA athletes sacrifice for their own dreams, but they also represent their country. And many spend the rest of their lives paying for that sacrifice. This ensures long-term support! 👏🏾 Ross Stevens.”

However, despite this philanthropic move, fans didn’t quite agree with its terms.

Social media erupts before the Milano Cortina Games

“So the first payment to athletes won’t happen for 20 years?” asked one confused fan.

The athletes will be able to access their first $100,000 in 20 years after taking part in the Olympic Games, or at the age of 45. While the other $100,000 will be provided through a guaranteed life insurance benefit for the athlete’s chosen family members.

So, this fan wrote, “What’s the point of gifting them money after they die? Perhaps it’s just a way to make the number sound bigger. A life insurance policy on a young healthy person costs a small fraction of the face value.”

“Bummer that $100,000 have the purchasing power of $25,000 in 20 years,” added another X user. 

However, thanking Stevens, USOPC Chair Gene Sykes said, “Because of Ross’ extraordinary generosity and philanthropic creativity we can create more than a financial safety net— we can build a springboard that will propel these athletes to even greater heights beyond their Olympic and Paralympic careers.”

Disagreeing with the policy, this fan wrote, “Except the majority of olympic athletes need the money NOW because they can’t afford to live bc of their lack of funding. these billionaires are so disconnected from reality. god, billionaires s**k.” 

While it’s true that athletes like Vadym Kolesnik who had to set up a GoFundMe to fly his parents out to Milan could use the funding now, the aim of the program is to specifically help retired Olympians with their lives after sport.

“Imagine: instead of exploiting athletes for ads, just… give them money for greatness. Revolutionary,” wrote another disgruntled fan

While the budget for the Milano Cortina Games rose to $1.9 billion, the US remains one of the few major nations that does not provide direct government funding for its Olympians, leaving them to pursue extra jobs and direct dependency on sponsors.