Criticism Mounts Over World Athletics’ $50,000 Prize for Olympic Gold Medals

In a surprising move that has sparked controversy within the Olympic community, World Athletics and its president Sebastian Coe have announced that they will pay $50,000 for each track and field gold medal won at the upcoming Paris Olympics. This decision has drawn criticism from various Olympic sports bodies, including the Association of Summer Olympic International Federations (ASOIF), who believe that it undermines the values of Olympism and the uniqueness of the games.

The International Olympic Committee (IOC) does not traditionally pay prize money for Olympic medals, relying instead on state governments and national Olympic bodies to provide financial rewards for athletes. However, Coe, a two-time Olympic champion himself, has pledged $2.4 million from World Athletics’ share of the IOC’s income to reward track and field athletes for their achievements.

While Coe argues that the money is a way to acknowledge the athletes as the stars of the show, ASOIF and other critics believe that putting a price on Olympic gold medals goes against the principle of solidarity and could disadvantage less privileged athletes who do not have access to commercial endorsements.

The timing of Coe’s announcement, coming just after the ASOIF annual meeting, has raised eyebrows and fueled speculation about the upcoming IOC presidential contest. With Thomas Bach’s 12-year limit as president set to expire, there are discussions about changing the Olympic Charter to allow him to stay in office, while Coe’s age could potentially prevent him from running for the position.

Despite the backlash from Olympic sports bodies, the promise of prize money has been well-received by United States athletes who stand to benefit financially from their performances in Paris. As the countdown to the Olympics begins, the debate over the value of Olympic medals and how athletes should be rewarded continues to divide the sports community.