World Athletics to Award Prize Money at Olympic Games, Starting with Paris 2024

In a groundbreaking move, World Athletics has announced that it will be the first international federation to award prize money at the Olympic Games. The global governing body has made a total prize pot of $2.4 million available for this summer’s Olympics in Paris, with gold medallists set to receive $50,000 each.

This decision marks a significant shift in the world of athletics, with World Athletics president Lord Coe calling it a “pivotal moment.” The organization aims to create a more stable financial landscape for athletes and recognize the crucial role they play in the success of the Olympic Games.

The prize money will not only be awarded to individual gold medallists but also extended to silver and bronze medallists at the Los Angeles 2028 Olympics. Relay gold medallists will also have the opportunity to share their prize money among the team.

Former Olympic gold medallist Greg Rutherford praised the move, stating that it is a step in the right direction for supporting athletes who sacrifice so much to achieve success at the highest level of sport. Rutherford emphasized the financial challenges that athletes face and expressed hope that other sports will follow World Athletics’ lead in providing financial support to athletes.

While some may argue that prize money goes against the amateur spirit of the Olympics, Coe defended the decision, stating that it will help athletes stay in the sport longer and train more effectively. World Athletics plans to announce the format and structure of prize money for the 2028 Games closer to the event.

Overall, the introduction of prize money for Olympic medallists represents a significant milestone for the sport of athletics and underscores World Athletics’ commitment to empowering athletes and recognizing their contributions to the Olympic Games.