Soviet Olympic champion Balboshin recalls $3000 prize in 1976

Nikolai Balboshin, a 1976 Montreal Olympic wrestling champion, discussed the financial realities of Soviet athletics in an interview. For winning Olympic gold, he received 3000 rubles gross, which after taxes and currency deductions amounted to approximately 2100-2200 rubles. World championship victories paid 1500 rubles (1200 after taxes), while European and Soviet championships paid 500 rubles each, but only if a world championship was also won in that weight class that year. The disparity between official Soviet ruble-to-dollar exchange rates and black market rates was significant. Purchasing a car required special government-issued coupons that even Olympic champions had to personally request from sports ministers. Balboshin described visiting the USSR Sports Committee chairman to obtain permission to buy a Volga automobile, which cost 9,120 rubles but sold on the black market for 27,000 rubles.