Athletics Breaks 128-Year Tradition by Offering Prize Money to Olympic Champions

In a groundbreaking move, Athletics has become the first sport to offer prize money to Olympic champions, marking a significant departure from the long-standing tradition of amateurism in the Games. The announcement that the 48 gold medallists in Paris this year will earn $50,000 each has sent shockwaves through the sporting world.

For 128 years, athletes competing in the Olympics have not received prize money from the International Olympic Committee (IOC). However, World Athletics President Sebastian Coe has spearheaded a new initiative to allocate the $2.4 million prize pot from the IOC directly back into the sport.

Coe emphasized the importance of recognizing the dedication and commitment of Olympic athletes, stating, “While it is impossible to put a marketable value on winning an Olympic medal, I think it is important we make sure some of the revenues generated by our athletes at the Olympic Games are directly returned to those who make the Games the global spectacle that it is.”

The decision to offer prize money to Olympic champions comes at a time when many athletes, including Olympic medallists, struggle to secure funding for their training and competition expenses. Despite the lack of official prize money in the past, athletes in various sports have received substantial bonuses from sponsors for their achievements on the Olympic stage.

With the introduction of prize money for Olympic silver and bronze medallists set to begin at the 2028 Los Angeles Games, the landscape of Olympic competition is evolving to better support and reward athletes for their hard work and dedication. This historic decision by World Athletics marks a significant shift in the way Olympic champions are recognized and compensated for their extraordinary achievements on the world stage.