Thailand offers money for Olympic medals

Thailand is to offer its athletes cash incentives for medals at the Beijing Olympics - but will pay out in instalments to stop medallists squandering the money.
Under the plans, gold medallists will earn 10 million baht $350,000), silver medallists will receive six million baht, while a bronze medal will be worth four million baht - a sizeable sum in a country where the minimum wage is just 203 baht ($8) a day.
However, half of the money will be paid over a 20-year period to prevent Thai Olympians, many of whom are from poor backgrounds, from frittering it away.
As Thai Olympic committee member, Charoen Wattanasin, explains âwe don't want them to spend it all at once; they might need this money when they get old. We will give it to them every month. Most of them manage their finances but there have been a few bad examples in the past."
Thai Olympic chiefs decided to stagger the payments after several high profile cases of athletes, such as that of Manus Boonjumnong the 2004 gold medallist, finding instant fame and blowing their money on gambling and expensive party lifestyles.