Athletics is set to become the first sport to offer prize money to Olympic gold medallists at this summer’s Olympic Games in Paris.
Athletes who win a gold medal in each of the 48 athletics events in Paris will be rewarded US$50,000, with the total prize pool reaching U$2.4 million.
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Relay teams will split the $US50,000 between their members.
The International Athletics Federation is also considering extending the prize money to Olympic silver and bronze medal winners at the LA 2028 Olympic Games.
World Athletics President Sebastian Coe said that the introduction of prize money for Olympic gold medallists marked a significant moment for both World Athletics and the sport of athletics in its entirety.
“This is the continuation of a journey we started back in 2015, which sees all the money World Athletics receives from the International Olympic Committee for the Olympic Games go directly back into our sport,” Mr Coe said.
“We started with the Olympic dividend payments to our Member Federations, which saw us distribute an extra US$5m a year on top of existing grants aimed at athletics growth projects, and we are now in a position to also fund gold medal performances for athletes in Paris,” he said.
Mr Coe also expressed hopes that the funds would enable athletes to sustain their athletic careers and pursue their Olympic dreams for years to come.
“While it is impossible to put a marketable value on winning an Olympic medal…I think it is important we start somewhere and make sure some of the revenues generated by our athletes at the Olympic Games are directly returned to those who make the Games the global spectacle that it is.”
The disbursement of prize money will be subject to the standard World Athletics ratification process, ensuring adherence to anti-doping protocols and fair competition practices.
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