World Athletics to Award $50,000 Prize Money to Gold Medal Winners at 2024 Paris Olympics
Shaunae Miller-Uibo of the Bahamas made history at the Tokyo Olympic Games in August 2021 by winning the gold medal in the women’s 400-meters event. Her incredible performance captivated audiences around the world as she crossed the finish line in first place, securing her place in Olympic glory.
Now, World Athletics has announced a groundbreaking decision to award $50,000 in prize money to gold medal winners at the 2024 Olympic Games in Paris. This move marks a significant shift in the Olympic Games’ approach to amateurism, as it becomes the first international federation to offer direct prize money to Olympic medalists.
The total prize pot for the 2024 Games will amount to $2.4 million, with athletes competing in various track and field events set to benefit from this financial reward. Relay teams will also receive a share of the winnings, with each member taking home $12,500.
World Athletics President Sebastian Coe, a two-time Olympic gold medalist himself, emphasized the importance of recognizing the dedication and commitment of athletes who make the Games a global spectacle. The prize money will be funded by payments from the International Olympic Committee, which generates revenue from broadcasting deals and sponsorships.
While some countries already provide bonuses to their Olympic medalists, the introduction of prize money by World Athletics highlights the organization’s commitment to supporting and empowering athletes. The decision has been met with praise from athletes like Norwegian sprinter Karsten Warholm, who emphasized that the value of an Olympic gold medal goes beyond monetary rewards.
As the sporting world continues to evolve, the recognition and support of athletes through initiatives like prize money for Olympic medalists serve as a testament to the dedication and passion of those who compete at the highest level. Shaunae Miller-Uibo’s triumph in Tokyo and the upcoming prize money for gold medalists in Paris are shining examples of the enduring spirit of sportsmanship and excellence in athletics.