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In a historic move, World Athletics declared on Wednesday its decision to offer prize money at the Olympics for the first time, commencing with the upcoming Games in Paris.
Each gold medalist across the 48 athletics events at the Paris Olympics is set to receive $50,000 (equivalent to 46,000 euros).
The total prize pool of $2.4 million will be drawn from the International Olympic Committee’s revenue share allocation provided to World Athletics every quadrennial cycle.
Individual Olympic champions will be granted $50,000 each, while relay teams will share the same amount among their team members.
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Furthermore, World Athletics confirmed that prize money would extend to silver and bronze medalists from the 2028 Olympics in Los Angeles.
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Sebastian Coe, President of World Athletics, emphasized the significance of this development, 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 recognizing the critical role they play in the success of any Olympic Games.”
He added, “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. 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.”
The Paris Olympics are scheduled to take place from July 26 to August 11, 2024.
