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In a landmark decision by World Athletics, Olympic champions will get paid $50,000 for the first time in Paris.
For the first time in history, World Athletics has become the first sports governing body to introduce prize money at the Olympics and will be paying their champions a cash reward of $50,000 in Paris.
The body announced that there will be prize money for Olympic champions and relay teams across 48 events, totaling US$2.4 million. This money comes from the International Olympic Committee’s revenue share allocation, which is received by World Athletics every four years.
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This initiative by World Athletics also includes a 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," said World Athletics President Sebastian Coe when sharing details of the decision.
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“While it is impossible to put a marketable value on winning an Olympic medal, or on the commitment and focus it takes to even represent your country at an Olympic Games, I think it is important we start somewhere and make sure some of the revenues generated by our athletes at the Olympic Games are directly returned to those who make the Games the global spectacle that it is,” he concluded.
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