It’s no secret that some of The Block 2023 contestants cleaned up at the auctions, however, all of them are allegedly yet to see any money from the sales.
A source told Yahoo Lifestyle Australia that the Blockheads don’t get paid their winnings “the way audiences would think”.
“It’s not like Big Brother or Australian Idol in the early 2000s where the money would be in your account a week later,” they said. “Channel Nine doesn’t actually pay the prize money straight away. It comes into their account in blocks.”
The payment information was apparently nutted out in their contracts, but some of the contestants failed to read the fine print.
“All the contestants are told this before signing up for the competition, but at that stage of the process, excited applicants don’t really turn their nose up when reading that part of their contract,” the insider continues.”
Why don’t the contestants get paid immediately?
Of course, like any house sale, there is usually a chunk of time before the owner receives the money. Most sales require a cooling-off period and a settlement period, which can take several weeks, and sometimes months.
“There are quite a few processes that need to be completed before the money can be exchanged,” the source adds.
However, the move to hold onto the funds may also be a way for producers to make sure the contestants don’t break their contracts when speaking to the press.
“And while it is a lengthy process, it does make you wonder if this is a tactic to keep their contestants in line for longer and make sure the secrets of The Block are kept quiet while contestants are still in the media.
The contestants are struggling to fund their lifestyles
Thanks to the popularity of the show, the Blockheads were catapulted from anonymity into a world where they were recognised while walking down the street.
After the auctions aired, most of the contestants were in demand at events and appearances and adopted a pretty high-flying lifestyle. However, without any of their winnings in the bank, they had to fund their social outings themselves.
“Their lives have been thrown into complete chaos, and the perception that some of these contestants are now millionaires couldn’t be further from the truth,” the insider said.
“Some of these contestants have been really struggling to keep up with their usual spending. Their friends and family treat them like millionaires. However, it is fair to expect that these guys have less cash flow than they usually would.”
“They all want their money,” the insider confirms, adding: “The realities are setting in for sure.”
How much did The Block 2023 contestants win?
Four of the five houses up at the auction sold, and those sales scored money for each team of contestants.
Ash’s and Leah’s house was passed over on the day, and it still hasn’t sold.
The house that sold at auction went for the following amounts:
Steph and Gian
Sold for: $5,000,000
Total profit: $1,650,000
Eliza and Liberty
Sold for: $4,300,000
Total profit: $1,050,000
Kristy and Brett
Sold for: $3,035,000
Total profit: $65,000
Kyle and Leslie
Sold for: $3,100,000
Total profit: $130,000
Stream The Block 2023 on 9Now.