The gold medalists in track and field at this summer’s Olympic Games in Paris, France, will split a reward money of $50,000 (£39,400) amongst them.
In an unprecedented step, World Athletics became the first international sport body to pay prize money at an Olympics when it revealed the 2.4 million dollar (£1.89 million) prize fund on Wednesday morning.
The effort also includes a “firm commitment,” according to the world governing body, to increase prize money for silver and bronze medal winners at the Los Angeles Games in four years.
According to World Athletics, the relay medalists will divide the $50,000 award among their squad.
Prize money is being introduced by World Athletics for Olympic gold medalists in Paris 2024 as well as for all medalists from LA28.
— April 10, 2024, World Athletics (@WorldAthletics)
“We are committed to empowering athletes and acknowledging their critical role in the success of every 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,” stated Sebastian Coe, president of World Athletics.
“World Athletics is continuing a journey that began back in 2015, whereby all of the money that the International Olympic Committee gives us for the Olympic Games is reinvested directly back into our sport.”
“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,” Coe continued. “We started with the Olympic dividend payments to our member federations, which saw us distribute an extra five million dollars a year on top of existing grants aimed at athletics growth projects.”
“Although it is impossible to place a monetary value on an Olympic medal or the dedication and concentration required to even compete for your country, I believe it is crucial that we start somewhere and ensure that a portion of the money made by our athletes at the Olympics goes directly back to the people who help make the games the international spectacle that they are.”
