An athlete will be awarded S$1 million for an Olympic gold, S$500,000 for a silver and S$250,000 for a bronze. The only athlete to have received the top award was swimmer Joseph Schooling, who won the 100m butterfly at the 2016 Rio Games.
It is mandatory for all athletes to give a percentage of their MAP awards to their respective National Sports Associations for future training and development. In Maeder’s case, he will need to give 20 per cent of his prize money, or S$50,000, to the Singapore Sailing Federation.
The MAP awards are also taxable.
“The Olympic Games represent the pinnacle of sporting achievement, where the world’s finest athletes gather not just to compete, but to embody the highest ideals of excellence, friendship and respect,” said SNOC president Grace Fu, who is also Minister for Sustainability and the Environment.
“Our athletes in Paris did just that – representing Singapore with passion, resilience and unwavering determination.
“They carried the hopes of a nation and stood tall on the world’s grandest stage.”
Also attending the event were Minister for Culture, Community and Youth Edwin Tong, Olympians such as Yeo Jia Min and Amita Berthier as well as Maeder’s parents Hwee Keng and Valentin.
A total of 23 athletes represented Singapore at the Paris Olympics, with 15, including Maeder, making their Games debut.
MAEDER’S STANDOUT YEAR
Maeder’s bronze was Singapore’s sixth Olympic medal and meant that he became the country’s youngest Games medallist. He ended Singapore’s eight-year wait for an Olympic podium finish since Schooling won gold in 2016.
He is also Singapore’s first Olympic sailing medalist.
The 18-year-old, who is the world’s top-ranked kitefoiler, has been in stunning form this year. Prior to taking to the water at the Olympics, Maeder won five consecutive competitions, including the world championships where he defended his title.
He has continued in a similar vein post-Olympics.
In September, Maeder won the Austrian leg of the KiteFoil World Series and followed that up by winning the 2024 Formula Kite Asian Championships in Daishan, China.
The following month, he retained his IKA KiteFoil World Series title after winning its Italian leg, before topping the open event at Formula Kite Youth European Championships in Sardinia, Italy.
At the Singapore Sports Awards in June, the Asian Games gold medallist took the Sportsboy of the Year honour for the third consecutive time.
Maeder is also among the nominees for the inaugural Young World Sailor of the Year award at the 2024 World Sailing Awards.