The World Athletics (WA), the international governing body for athletics, has announced a groundbreaking decision to award prize money at the Olympic Games, becoming the first international federation to do so.
This landmark decision aims to financially reward athletes for achieving the pinnacle of sporting success, starting from the upcoming Olympic Games in Paris.
A total prize pool of US$2.4 million has been allocated from the International Olympic Committee’s revenue share allocation, received by World Athletics every four years. This fund will be used to reward athletes who win a gold medal in each of the 48 athletics events in Paris with US$50,000.
Additionally, World Athletics has committed to extending prize money to Olympic silver and bronze medal winners at the LA 2028 Olympic Games.
President Sebastian Coe expressed his enthusiasm for the initiative, stating, “The introduction of prize money for Olympic gold medallists is a pivotal moment for World Athletics and the sport of athletics as a whole, underscoring our commitment to empowering the athletes and recognizing the critical role they play in the success of any Olympic Games.”
Coe highlighted World Athletics’ dedication to reinvesting revenue received from the International Olympic Committee back into the sport, a journey that began in 2015. This initiative includes Olympic dividend payments to Member Federations and now extends to funding gold medal performances for athletes in Paris and beyond.
While acknowledging the inherent value of winning an Olympic medal, Coe emphasized the importance of starting somewhere to ensure that revenues generated by athletes at the Olympic Games are directly returned to those who contribute to the global spectacle.
The payment of prize money will be contingent upon the World Athletics ratification process, including athletes undergoing standard anti-doping procedures. Each individual Olympic champion will receive US$50,000, with relay teams sharing the same amount. Details regarding the format and structure of bonuses for the LA28 Olympic Games will be announced closer to the event.
