World Athletics to Award Prize Money at Olympic Games: Gold Medallists to Receive $50,000

World Athletics has made history by announcing that it will be the first international federation to award prize money at the Olympic Games. A total prize pot of $2.4 million has been allocated for this summer’s Olympics in Paris, with gold medallists set to receive $50,000 each. This decision marks a significant moment for the sport of athletics, with World Athletics president Lord Coe calling it a “pivotal moment.”

The prize money will be extended to silver and bronze medallists at the Los Angeles 2028 Olympics. There will be 48 athletics events in Paris, with relay gold medallists sharing their prize money among the team. This move is aimed at empowering athletes and recognizing their crucial role in the success of the Olympic Games.

Former Olympic gold medallist Greg Rutherford praised the decision, stating that it is a step in the right direction for supporting athletes who sacrifice so much to achieve Olympic glory. Rutherford emphasized the financial challenges faced by athletes and expressed hope that other sports will follow World Athletics’ lead in providing prize money for Olympic champions.

Swedish pole vault champion Armand Duplantis and Norwegian 400m hurdle champion Karsten Warholm also welcomed the move, acknowledging that it is a positive step towards professionalizing the sport. While the International Olympic Committee does not award prize money, World Athletics’ initiative is a significant development in recognizing and rewarding the dedication and hard work of Olympic athletes.

As the countdown to the Paris Olympics continues, athletes are gearing up to compete for not only the glory of winning a gold medal but also the financial reward that comes with it. The introduction of prize money at the Olympic Games marks a new era for athletics and sets a precedent for other sports to follow suit in supporting their athletes.