Gold medallists to earn $50,000 at Paris Olympics, says World Athletics

[FILE]Athletes compete in the mixed 4x400m relay heats during the World Athletics Championships at the National Athletics Centre . (Photo by AFP)

World Athletics says it will award prize money at an Olympic Games for the first time, starting at this summer’s Olympic Games in Paris. According to a release by the world governing body for Athletics, ‘a total prize pot of $2.4 million has been ring-fenced from the International Olympic Committee’s (IOC) revenue share allocation, which is received by World Athletics every four years. This will be used to reward athletes, who win a gold medal in each of the 48 athletics events in Paris with $50,000.

World Athletics also revealed its “firm commitment to extend the prize money at a tiered level, to Olympic silver and bronze medal winners at the LA 2028 Olympic Games.

“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 recognising the critical role they play in the success of any Olympic Games.”

World Athletics President, Sebastian Coe, said: “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.

“We started with the Olympic dividend payments to our member federations, which saw us distribute an extra $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, with a commitment to reward all three medallists at the LA28 Olympic Games.”