Paris Olympics: $50,000 for gold – Athletics becomes first sport to pay prize money to Olympians | World News
Athletics will be the first sport to introduce prize money at the Olympics this summer.
World Athletics, the international athletics governing body, says it will pay Olympic gold medalists at the Paris Games $50,000 (around £39,400).
The athletics federation said it was providing $2.4 million (£1.89 million) to pay gold medalists in 48 events in the Paris athletics program.
Team GB's Katarina Johnson-Thompson, world heptathlon champion, could be eligible for the payout if she wins gold in Paris. Image: Reuters
Relay teams split the $50,000 among their members.
Payments for silver and bronze medalists are scheduled to begin at the 2028 Los Angeles Olympics.
World athletics President Sebastian Coe said: “The introduction of prize money for Olympic gold medalists is a pivotal moment for World Athletics and the sport of athletics as a whole. It underlines our commitment to empowering athletes and recognizing the critical role they play in each individual's success.” Olympic Games.
“This is a continuation of a journey we began back in 2015, where all the money World Athletics receives from the International Olympic Committee for the Olympic Games goes directly back into our sport.”
He added: “Although it is impossible to put a marketable value on winning an Olympic medal or the commitment and focus it takes to even represent your country at an Olympic Games, I think it is important that “Let’s start somewhere and make sure we get something out of it.” The revenue generated by our athletes at the Olympics goes directly back to those who make the Games the global spectacle that they are.”
World Athletics President Sebastian Coe at the 2023 World Athletics Championships. Image: Reuters
Speaking to Sky News, Mr Coe added that he wanted athletes “to realize that I have a very clear connection between the announcement of the new partners, Sony, Deloitte and Morinagas, coming to the table and the fact that they are able to do so.” Benefit from the proceeds from the growth of the sport.
He also said he didn't think prize money would “remotely” ruin the ethos of the club OlympiaHe said: “Instead of putting the athletes as the first and last thought and singing a good song about how important they are, that needs to be reflected.”
“I look at this prize money as a set of resources that we provide within the sport that may actually enable these athletes to stay in the sport for another four years,” he added.
“And look, not everyone is going to win an Olympic title in the 100 meters or 1,500 meters, but we have 48 events and that will help the athletes.”
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The payment of prize money depends on the World Athletics ratification process, including the athletes undergoing and completing standard anti-doping procedures.
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The modern Olympic Games were originally an amateur sporting event and the International Olympic Committee does not award prize money, although many medalists receive payments from their country's government, national sports associations or sponsors.
In addition to the various men's and women's running races – both with and without hurdles – gold medalists in the long jump, high jump, triple jump, hammer throw, javelin throw, discus throw, pole vault and shot put receive prize money.
The Olympic champions in walking, women's heptathlon and men's decathlon will also receive $50,000.
The International Olympic Committee (IOC) told Sky News: “The IOC redistributes 90% of all its revenue, particularly to National Olympic Committees (NOCs) and International Federations (IFs).
“That means the equivalent of $4.2 million flows every day to athletes and sports organizations at all levels around the world. It is up to each IF and NOC to determine how they can best serve their athletes and the global development of their sport.”
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