Athletics to Introduce Prize Money at Olympics: Gold Medallists to Receive $50,000

Athletics is set to make history at the upcoming Olympics in Paris this summer as the first sport to introduce prize money for gold medallists. World Athletics, the international athletics federation, announced that Olympic gold medal winners will receive $50,000 each, with a total of $2.4 million set aside for the 48 events in Paris’ track and field programme.

This groundbreaking move will not only reward the top athletes for their hard work and dedication but also highlight the crucial role they play in the success of the Olympic Games. World Athletics President Sebastian Coe emphasized the significance of empowering athletes and recognizing their contributions to the global spectacle of the Games.

The introduction of prize money for Olympic gold medallists marks a pivotal moment for athletics and reflects World Athletics’ commitment to reinvesting in the sport. Coe explained that the funds generated from the Olympics will directly benefit the athletes, ensuring that they can continue to compete and excel in their respective disciplines.

While the Olympics have traditionally been an amateur sports event without prize money, this new initiative by World Athletics aims to support athletes and encourage their continued participation in the sport. The prize money will be distributed to winners in various events, including running races, jumping, throwing, and multi-discipline events like the heptathlon and decathlon.

As athletes prepare to compete on the world stage in Paris, the introduction of prize money adds an exciting element to the Games and recognizes the incredible talent and dedication of Olympic athletes. This move by World Athletics sets a new standard for rewarding excellence in sports and underscores the importance of supporting athletes in their pursuit of Olympic glory.