World Athletics to award prize money at 2024 Paris Olympics

World Athletics has announced the prize money for the 2024 Olympic gold medalists. World Athletics will award athletes $2.4 million from a portion of the revenue it receives from the Olympic Committee. Along with the medal, he will be awarded $50,000 to each gold medalist in the 48 track and field events that will be held during the Big Games.

With this decision, World Athletics becomes the first governing body to undertake such an initiative in the 128-year history of the Olympic Games. Additionally, this will be extended to silver and bronze medalists during the 2028 Los Angeles Olympics.

However, this pool prize money is not allocated to Paralympic athletes. The Paralympic Games (August 28-September 8) are hosted by the World Para Athletics Federation.

A step towards empowerment

World Athletics president and former Olympic track and field athlete Sebastian Coe said the organization plans to bring stability to the financial sector for track and field athletes. “The introduction of prize money for Olympic gold medalists is a pivotal moment for the World Championships in Athletics and athletics as a whole, as we strive to empower athletes and recognize the important role they play in the success of the Olympic Games. ”, he said. he told BBC Sport.

Additionally, while Coe acknowledged the sentimental value of his country winning medals at the Olympics, he said there was a need to give back to athletes some of the profits they generated. “We started with the Olympic Dividend payments to our member federations, distributed an additional $5 million a year on top of existing grants for athletics growth projects, and now we have expanded the Olympic Dividend to our member federations. “We are also in a position to fund the gold medal performances of our athletes,” he added. “Paris is determined to reward all three medalists of the LA28 Olympic Games.”

In response, the IOC said 90% of the proceeds ($4.2 million each day) would be returned to NOCs and IFs to support athletes and sports organizations.According to the International Commission, it is up to these organizations [NOCs and IFs]how to determine the distribution of revenue.

Will World Athletics change its 128-year tradition?

When discussing whether this decision will affect the Olympic spirit on the track, Coe was candid about how it does not violate the spirit of the program. The Olympic 1500m champion said the world is changing and there is a need to create a sport that is economically viable for athletes.

He also did not discuss the decision with IOC President Thomas Bach. World Athletics CEO John Ridgin said he had brief discussions with the IOC department before the historic move, but added: “We hope they (IOC) welcome it.” ,” Mr Coe told the Guardian.

Interestingly, even though they do not receive prize money from the IOC, Olympic athletes do receive prize money from their respective countries. At the Tokyo Olympics, the United States Olympic and Paralympic Committee awarded medalists $37,500. This raised questions about Sebastian Coe’s intentions. “I have not ruled out that possibility and certainly have not ruled it out,” he said last year when discussing running for IOC president after Bach’s term ends in 2025. .

Athletes express their opinions

Following this decision, many athletes also voiced their opinions. Swedish-American track and field athlete Armand Duplantis called the announcement “a step in the right direction,” while current Olympian Karsten Warholm, a 400-meter hurdles athlete, said the award was a step in the right direction for athletes. He said it will motivate him. We believe this is a ‘smart move’ as the players have worked hard and deserve the award.

However, Jonathan Edwards seems to express a different opinion. The triple jump world record holder thinks this is strange because it is not the World Athletics Championships. He said the decision appeared to undermine IOC policy. The Committee has made its position clear regarding the non-payment of prize money at events.