World Athletics has made a bold step by announcing its innovative plan to award prize money during the Olympic Games, signaling a major change in how the world recognizes athletes’ achievements. Athletes will be rewarded with US$50,000 if they win the gold medal in any of the 48 athletics events starting with the next Olympic Games in Paris.
A substantial prize pool totaling US$2.4 million has been earmarked from the International Olympic Committee’s revenue share, specifically allocated to World Athletics every four years. This fund aims to honor the extraordinary performances of athletes attaining the pinnacle of sporting excellence.
This initiative also encompasses a firm commitment to extending prize money to Olympic silver and bronze medalists at the LA 2028 Olympic Games, ensuring equitable recognition for athletes across all levels of achievement.
World Athletics President Sebastian Coe emphasized the significance of empowering athletes and recognizing their indispensable contribution to the success of the Olympic Games. Coe stated, “The introduction of prize money for Olympic gold medallists is a pivotal moment for World Athletics and the sport of athletics as a whole, underlining our commitment to empowering the athletes and acknowledging the crucial role they play in the success of any Olympic Games.”
Coe highlighted World Athletics’ ongoing endeavors to reinvest Olympic revenues back into the sport, citing the distribution of additional funds to Member Federations since 2015. He further reiterated World Athletics’ dedication to honoring athletes’ achievements by ensuring that a portion of the revenues generated from the Olympic Games directly benefits those who contribute to its global appeal.
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The disbursement of prize money is subject to the World Athletics ratification process, contingent upon athletes undergoing standard anti-doping procedures. Each Olympic champion will be awarded US$50,000, while relay teams will collectively receive the same amount. Details regarding the format and structure of bonuses for the LA28 Olympic Games will be disclosed closer to the event.
World Athletics’ decision to introduce prize money at the Olympic Games represents a significant milestone in recognizing and rewarding athletes’ dedication and excellence on the world stage, reaffirming its commitment to the advancement of the sport.
Source: World Athletics
