Winners of the track and field events at this year’s Paris Olympics will receive more than just a gold medal. They will also receive a $50,000 prize.
World Athletics, track and field’s governing body, said Wednesday it will award $2.4 million from the International Olympic Committee’s revenue sharing to winners of 48 events. It’s the first time a sport has offered prize money at the Olympics, the quadrennial spectacle that was once considered the pinnacle of amateur athletics.
“The introduction of prize money for Olympic gold medals is a pivotal moment for world athletics and the sport of athletics as a whole, underlining our commitment to empowering athletes and recognizing the vital role they play in the success of any Olympic Games,” the federation said. President Sebastian Coe said this in a statement.
Payments for silver and bronze medals will begin at the 2028 Olympics in Los Angeles, said Coe, who won gold medals in the 1500 meter race for Great Britain in 1980 and 1984. The relay teams who win gold medals will split the $50,000 prize among the participants. four members.
When asked by reporters whether the move violated the spirit of the Olympic Games, Coe replied: “I don’t think so,” according to the Guardian.
“My opinion is that the world has changed,” he said. “It’s really important that we create, where possible, a sport that is financially sustainable for our competitors. This is the beginning.”
The payment of prize money will depend on World Athletics’ ratification process, including which athletes undergo and pass the usual anti-doping procedures, the federation said.