Olympic track and field athletes always need to keep their eyes on the prize, but now, that prize could be $50,000.
World Athletics announced Wednesday that it would pay prize money to track and field gold medalists in the upcoming Paris Olympic games, with payments for silver and bronze medalists starting in the 2028 Olympics in Los Angeles. The international sports body that governs a range of athletic sports from track and field to ultra running is the first sport to do so in the Olympics.
World Athletics President Sebastian Coe told reporters that the move is meant “to recognize that the revenue share that we receive is in large part because our athletes are the stars of the show.”
The prize money will come from the allotted revenue the International Olympic Committee gives to World Athletics. In response to the announcement, the IOC said that each sport’s governing body can decide how to use its allotted funds, including paying the prizewinners.
While the modern Olympics started as an amateur sports event without prize money awarded directly by the IOC, some athletes end up making money through sponsorships or medal awards from their respective governments.
Coe does not want the decision to imply that other Olympic events will follow suit and pay their winners. Coe is a potential candidate for the IOC presidency, which holds elections next year.
Even with the prize money, Olympic gold medalists will still earn less than they would at World Athletics championships. During last year’s competition in Budapest, even athletes in eighth place received prize money.
Some information for this report was provided by The Associated Press.
