Track and Field to Introduce Prize Money at Olympics, Gold Medalists to Receive $50,000 in Paris

Author: No Comments Share:

Track and field is set to become the first sport to introduce prize money at the Olympics. World Athletics announced on Wednesday that gold medalists at the Paris Olympics will receive $50,000 each, marking a significant departure from the amateur ethos that has long characterized the Games.

The move underscores the growing recognition of athletes’ contributions to the success and popularity of the Olympics. World Athletics has allocated $2.4 million to reward gold medalists across the 48 events in the track and field program. Relay teams will divide the $50,000 prize among their members. Silver and bronze medalists are expected to receive prize money starting from the 2028 Olympics in Los Angeles.

Sebastian Coe, President of World Athletics, emphasized that the decision reflects the acknowledgment of athletes as the driving force behind the Olympics’ appeal. He stated, “We receive revenue share in large part because our athletes are the stars of the show.”

The prize money will be sourced from the share of Olympic revenue that the International Olympic Committee (IOC) distributes to World Athletics. However, the move has the potential to disrupt the established dynamics within the Olympic movement ahead of the Paris Games. Coe revealed that World Athletics informed the IOC of its decision only on Wednesday morning, just before making the announcement public. The IOC has yet to comment on World Athletics’ plan.

Previous Article

Africa Sports & Tourism Awards (ASTA): Sports as a Catalyst for Accelerated Tourism Development in Africa

Next Article

Liberia’s Upper House Approves War Crimes Court, Aiming for Justice for Civil War Victims

You may also like