Track and field is getting ready to make history by being the first sport at the Olympics to give out prize money. World Athletics announced on Wednesday that gold medalists in Paris will receive $50,000.
This change marks a significant shift from the Olympics’ past, where athletes were strictly amateurs, especially in one of the most popular events.
The organization governing athletics has allocated $2.4 million to reward gold medalists across the 48 events in track and field at this year’s Paris Olympics. Relay teams will split the $50,000 prize among their members. Starting from the 2028 Olympics in Los Angeles, silver and bronze medalists will also receive payments.
World Athletics President Sebastian Coe explained that this move is a way to acknowledge that athletes are the stars of the show, contributing to the revenue the sport generates.
The prize money will be funded from the share of Olympic revenue that the International Olympic Committee (IOC) gives to World Athletics.
However, this decision might disrupt the balance within the Olympic movement before the Paris Games.
Coe mentioned that World Athletics informed the IOC of its plans just before announcing them. The IOC hasn’t responded yet.
The modern Olympics began as an amateur event, and the IOC doesn’t traditionally offer prize money. However, athletes often receive payments from their countries, sports organizations, or sponsors.
Coe, who won gold in the 1,500 meters at the 1980 and 1984 Games, understands the changing face of Olympic sports. He acknowledges the added pressures on athletes today compared to his time as an athlete.
Other countries and organizations have also been offering monetary rewards for Olympic success. For example, the United States Olympic and Paralympic Committee awarded $37,500 to gold medalists in Tokyo 2021. Singapore’s National Olympic Council promises $1 million for Olympic gold.
While track and field is taking this step, it’s uncertain if other sports will follow suit. Coe prefers not to speculate on behalf of other sports. This move by World Athletics could also hint at Coe’s intentions for the Olympics if he decides to run for the IOC presidency.
