Historic Move by World Athletics
World Athletics (WA) has declared a groundbreaking decision to award prize money to Olympic gold medalists, setting a new precedent in international sports. The federation announced that a substantial prize pot of $2.4 million will be allocated from the International Olympic Committee’s (IOC) revenue share to honor athletes at the Paris 2024 Games.
Empowering Athletes
In a statement, WA President Sebastian Coe emphasized the significance of this initiative, stating, “The introduction of prize money for Olympic gold medalists 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.”
A Shift in Tradition
Traditionally, Olympic medalists did not receive prize money due to the event’s amateur origins. However, WA aims to extend this bonus system to silver and bronze medalists at the Los Angeles 2028 Olympics, with the specifics to be determined later. Coe dismissed concerns about incentivizing cheating, emphasizing the focus on celebrating the world’s top athletes and acknowledging their contributions.
Paris 2024 Olympics
The Paris 2024 Olympic Games are scheduled to commence on July 26 and will continue until August 11. WA’s move to reward gold medalists marks a significant step towards recognizing athletes’ dedication and performance on the world stage.