The track and field winners at this year's Paris Olympics will receive more than just a gold medal. They will also receive a $50,000 prize.
World Athletics, track and field's governing body, announced Wednesday that it will allocate $2.4 million from the International Olympic Committee's revenue share to the winners of 48 sports. This is the first time the sport has offered prize money at the Olympics, a quadrennial spectacle once considered the pinnacle of amateur track and field.
“The introduction of prize money for Olympic gold medalists is a pivotal moment for World Athletics and athletics as a whole, and is a vital step in empowering athletes and recognizing the important role they play in the success of the Olympic Games. It underlines our commitment,” the federation said. President Sebastian Coe said in his statement:
Coe, who won gold in the 1500m race for Great Britain in 1980 and 1984, said silver and bronze medals will begin to be awarded at the 2028 Los Angeles Olympics. The relay team that wins the gold medal will split the prize money of $50,000 among the other teams. There are 4 members.
Asked by reporters whether the move violated the Olympic spirit, Coe said, “I don't think it violates it,” according to the Guardian.
“In my view, the world has changed,” he said. “It is very important to create a sport that is as economically viable for its competitors as possible. This is the start of that.”
Payment of prize money will depend on the World Athletics Championships ratification process, which involves athletes undergoing and clearing normal anti-doping procedures, the federation said.
