World Athletics President Sebastian Coe introduces prize money for Olympic medallists
World Athletics President Sebastian Coe has made a groundbreaking decision to introduce prize money for Olympic medallists, a move that has been long overdue according to the former double Olympic gold medallist himself. Coe believes that track and field athletes are the driving force behind the massive revenue generated during the quadrennial Summer Games, and it is only fair that they are rewarded for their efforts.
In a virtual interaction with reporters, Coe admitted that he had not discussed this decision with the International Olympic Committee (IOC) before making the announcement. However, he mentioned that World Athletics CEO Jon Ridgeon had informed the IOC’s games and sports department about the decision.
Under this new plan, gold medallists in 48 athletics events at the upcoming Paris Games will receive USD 50,000 each, with all three medal winners at the 2028 Los Angeles edition also set to receive prize money. This move marks a significant departure from the traditional amateur ethos of the Olympics, where the IOC does not award prize money to medallists.
Coe, who won gold in the 1,500 metres at the 1980 and 1984 Olympics, defended the decision by stating that the landscape of sports has changed significantly since his time as an athlete. He emphasized the importance of athletes benefiting from the growth of the sport and acknowledged the added pressures they face in the modern era.
While the IOC is yet to comment on this development, Coe remains confident that the decision falls within World Athletics’ jurisdiction. He believes that other sports may choose to follow suit in the future, but ultimately, it is up to each individual sport to decide on such matters.
The introduction of prize money for Olympic medallists by World Athletics is a bold and progressive step that recognizes the invaluable contributions of athletes to the success of the Games. It remains to be seen how this decision will be received by the wider sporting community and whether it will pave the way for similar initiatives in other sports.