World Athletics Announces Prize Money for Olympic Gold Medallists
World Athletics has declared its intention to award prize money to Olympic gold medallists, making it the first international federation to do so at an Olympic Games.
This landmark decision aims to financially recognise athletes for their unparalleled achievements on the grandest stage of sports, beginning with the upcoming Olympic Games in Paris this summer.
A substantial prize pot totalling US$2.4 million has been allocated from the International Olympic Committee’s revenue share, earmarked specifically for this purpose.
Each gold medallist in the 48 athletics events at the Paris Olympics will receive a sum of US$50,000.
World Athletics President Sebastian Coe hailed this initiative as a pivotal moment for the sport, emphasising the organisation’s commitment to empowering athletes and acknowledging their indispensable contribution to the success of the Olympic Games.
Coe highlighted the journey embarked upon by World Athletics since 2015, where all revenue received from the International Olympic Committee has been reinvested back into athletics.
This includes the Olympic dividend payments to Member Federations, aimed at fostering growth projects within the sport.
Acknowledging the intangible value of Olympic success, Coe stressed the importance of initiating this endeavour as a tangible gesture of appreciation towards athletes. He noted that while it’s challenging to quantify the worth of winning an Olympic medal, it’s essential to ensure that a portion of the revenue generated by athletes at the Games is directly reinvested into their endeavours.
The disbursement of prize money will be contingent upon the World Athletics ratification process, including athletes undergoing standard anti-doping procedures.
Individual Olympic champions will each receive US$50,000, while relay teams will share the same amount among team members.
Looking ahead, World Athletics has affirmed its commitment to extending prize money to Olympic silver and bronze medallists at the LA 2028 Olympic Games.
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