By Victor Kanayo
World Athletics (WA) announced on Wednesday that it will become the first international federation to hand prize money at the Olympic Games.
Specifically, the global athletics body said the decision will take effect at the 2024 Paris Olympics.
Confirmation
This was disclosed by the President of World Athletics, Lord Coe.
He said, “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.”
He said the organisation, serving as the global governing body has allocated a total prize pool of $2.4m for the upcoming Olympics in Paris this summer. Gold medal winners will receive $50,000.
Coe hailed the move as a pivotal moment, emphasising the organisation’s aim to establish a stable financial landscape for athletes.
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World Athletics revealed that details regarding the format and structure of prize money for the 2028 Games will be disclosed closer to the event and that athletes must comply with standard anti-doping procedures to qualify for the prize money.
WA Sharing Plans
In Paris, there will be 48 athletic events, with relay gold medalists sharing their prize money among team members.
However, this prize money scheme will not extend to the Paralympics, which is governed separately by World Para Athletics.
