World Athletics has announced that it will be the first international federation to award prize money at an Olympics, starting with this year's Games in Paris.
World Athletics President Sebastian Coe revealed that gold medal winners in each of the 48 athletics events in Paris will receive $50,000 (46,000 euros), with a total of $2.4 million (£1.89 million) set aside to pay the gold medallists across the track and field programme.
Relay teams will split the $50,000 prize money between their members, while payments for silver and bronze medallists are planned to begin at the 2028 Olympics in Los Angeles.
Coe emphasized the significance of this decision, 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 recognising the critical role they play in the success of any Olympic Games."
He explained that this move continues a journey that began in 2015, ensuring that all the money World Athletics receives from the International Olympic Committee for the Olympic Games goes directly back into the sport.
Coe acknowledged the difficulty of valuing the experience of winning an Olympic medal or even representing one's country at the Games but emphasized the importance of starting somewhere to ensure that revenues generated by athletes at the Olympics are directly returned to those who contribute to the event's global spectacle.
While athletes often receive payments from sponsors, and the tradition of amateur competition in the Olympics has evolved, World Athletics' decision to award prize money marks a significant change in the Games' approach to athlete compensation.
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