“You Can’t Offer More Money”: Arnold Schwarzenegger Once Revealed Secret Deal With IFBB That Stopped Him From Overtaking Mr. Olympia

Arnold Classic, named after legendary bodybuilder Arnold Schwarzenegger, is one of the most prestigious and best-paid bodybuilding competitions in the world. Arnold Classic handsomely rewards its winner in cash and kind, topping the whopping cash prizes with luxurious items like a Hummer vehicle and an Audemars Piguet watch. However, it is noticed that its cash prize never crosses that of the biggest bodybuilding event, Mr. Olympia.

In one of his interviews, Schwarzenegger revealed that for the event to attain IFBB’s recognition, an agreement was signed that limits Arnold Classic’s cash prize amount. Founded in 1946, International Fitness and Bodybuilding Federation (IFBB) is the governing body in the bodybuilding and fitness world. Therefore, for any contest to attain elite status, IFBB’s recognition is mandatory. Hence, Arnold Classic had no choice but to comply!

Arnold Schwarzenegger reveals why Mr. Olympia offers higher cash prizes

On 19 December 2022, legendary bodybuilder-turned-actor Arnold Schwarzenegger appeared on Nick’s Strength and Power podcast. Herein, while discussing the two biggest events of the bodybuilding world, Schwarzenegger confessed that even if he wishes to offer a higher cash prize than Mr. Olympia for the Arnold Classic, he is unable to do so as he is bound by a contract from IFBB. Arnie revealed that the Arnold Classic was the first one to offer a $5000 cash prize to the winner. Gradually, every year they steadily kept increasing the prize money. However, things changed when IFBB interfered.

“Then the IFBB came along, Ben Weider, and said we have to have an agreement for you to be sanctioned by the IFBB as an official IFBB competition. I said, ‘What’s the agreement?’ He said, ‘Your cannot offer more money than we’re offering for the Olympia.’ So we’ve always held back,” Schwarzenegger revealed.

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He continued, “The Arnold Classic was always held back to offer more cash prizes because we made an agreement that we would not go higher than the Mr. Olympia.” Figuring out a loophole in the agreement which limits the cash prize, Arnold Classic now offers other non-cash prizes along with the monetary amount. Though Schwarzenegger isn’t happy with the way Mr. Olympia rewards its winners over the years, there has been a considerable increase in the prize money of the said competition.

Evolution in the Mr. Olympia cash prize

Since the inception of the contest in 1965, Mr. Olympia has seen a 4000% increase in its prize money. The major changes have been in the last few decades. Larry Scott, a.k.a the winner of the first ever Mr. Olympia, won $1000 from the contest. However, for almost a decade, there was no difference in the prize money.

Arnold Schwarzenegger, who won the contest in the early 70s, also took home the same amount for 5 consecutive years. It was only in 1975 that the amount was raised for the first time to $2500. Since then, the prize money has been increased from time to time at irregular intervals. At present, the prize money has reached a whopping $400,000.

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Though Schwarzenegger still feels the amount is not enough and rewards its winners with something more than the cash prize. In general, the amount from Mr. Olympia, too, is more than enough to motivate a bodybuilder.