World Athletics to Award Cash Prize for Olympic Gold Medal

In a groundbreaking move, World Athletics has announced that track and field athletes competing in the upcoming Olympics in Paris will now receive a cash prize if they win a gold medal. This decision marks the first time in history that a cash prize will be awarded for a gold medal at the Olympic Games.

The total prize pot for this summer’s Olympics in Paris is set at £1.9m, with gold medallists in athletics receiving £39,400. Silver and bronze medallists will also be rewarded at the 2028 Summer Olympics in Los Angeles, although the format and structure of prize money for the 2028 Games will be announced at a later date.

World Athletics president Lord Sebastian Coe described the decision as a “pivotal moment” and emphasized the organization’s commitment to supporting athletes financially. However, the move has sparked some criticism, with concerns raised about the potential disparity in prize money between athletics and other sports.

Critics argue that the decision goes against the traditional spirit of the Olympics, which has historically been an amateur event without prize money. Some have expressed concerns about the impact on athletes in other sports who may not receive similar financial rewards.

Despite the controversy, athletes have responded positively to the news. Duncan Scott, Great Britain’s most decorated Olympic swimmer, believes that elite swimmers also deserve the opportunity to compete for a cash reward. Other athletes, including Dame Denise Lewis and Jonathan Edwards, have shared their perspectives on the decision, with opinions ranging from support to skepticism.

As the countdown to the Paris Olympics continues, the debate over prize money in athletics and its implications for other sports is likely to intensify. The Games are set to take place from Friday, July 26 to Sunday, August 11, 2024, with athletes from around the world vying for glory and, now, a cash prize for their achievements on the track and field.