Sports News

Icelandic NOC Allocates €128,000 to Fund Young Athletes’ National Team ParticipationThe Icelandic National Olympic Committee (NOC) has announced a €128,000 funding package to cover costs for 285 young athletes representing national teams between January and March. The initiative is part of a broader high-performance sports program approved in late 2023, aiming to boost youth athlete development.

July 16, 2025, 2:37 pm EDT

 

Last week, the Icelandic NOC and the National Sports Association (ÍSÍ) confirmed the allocation to 16 national sports federations. The funds will cover all or part of the expenses for the 285 athletes to participate in national team programs during the first quarter of the year, alleviating financial barriers to elite-level competition for young talents.

 

The funding stems from a broader financial strategy agreed in November 2023 between Ásmundur Einar Daðason, former Minister of Education and Children, and Lárus Blöndal, former President of the Icelandic NOC and ÍSÍ. This strategy has increased total public support for Iceland’s high-performance sports system in 2025 by 637 million Icelandic krónur (approximately €4.45 million).

 

The €4.45 million injection includes support for youth national teams, athlete salaries, and the construction of elite training facilities. It marks a significant institutional commitment to nurturing young talent, with officials noting that reducing financial burdens on athletes and federations will “enable more focus on skill development and international exposure.”

 

Gunnar Már Guðmundsson, current President of the Icelandic NOC and ÍSÍ, emphasized that the funding “strengthens the pipeline from youth sports to elite levels,” adding that investing in young athletes now “lays the groundwork for future Olympic and international success.”