World Athletics, the international governing body for track and field, cross-country running, road running, race walking, mountain running and ultrarunning, has announced an unprecedented move to reward gold medal winners at the 2024 Paris Games. . It will be the first international federation to offer prize money at the Olympic Games.
The organization will pay $2.4 million from the revenue share it received from the International Olympic Committee (IOC) to pay incentives to athletes in 48 track and field events, with each gold medalist receiving $50,000. The relay team will also receive $50,000, which will be divided among the teams.
This $50,000 figure is actually significantly lower than the $70,000 that gold medal winners at the World Athletics Championships receive.
Only the 48 gold medal winners at the Paris 2024 Games will receive prize money, but World Athletics said in a statement that it has made a “firm commitment” to award progressive prizes to Olympic silver and bronze medal winners at the Los Angeles 2028 Games. Shared.
In 2015, the federation pledged to invest all funds it receives from the IOC into the sport. This includes $5 million a year in Olympic dividends to member federations (such as USA Track and Field). Its leadership sees the landmark Olympic prize announcement as an extension of that effort.
“The introduction of prize money for Olympic gold medalists is a pivotal moment for the World Athletics Championships and athletics as a whole, and represents our commitment to empower athletes and recognize the important role they play in the success of the Olympic Games. This highlights the commitment of our team,” Athletics President Sebastian Coe said.
Coe said it's “impossible to put a market value on the dedication and focus it takes to win an Olympic medal or represent your country at the Olympics,” but World Athletics is motivated by the sport. He said the aim is to secure a portion of the profits. Olympic athletes will be returned to them directly.
World Athletics has a strong presence at the tournament. About 20% of his 10,500 athletes competing in the Paris 2024 Games will compete in track and field.
Coe did not inform the IOC of the federation's decision until shortly before it was announced.
Each National Olympic Committee (NOC) may award medal bonuses to athletes at its discretion. The United States Olympic and Paralympic Committee (USOPC) will award gold medalists $37,500, silver medalists $22,500, and bronze medalists $15,000.
These numbers are relatively modest compared to other delegations. At the 2022 Beijing Games, Hong Kong paid a whopping $642,000 to the individual gold medalist. Ten other delegations also paid out six-figure prize money, with Turkey offering the second-highest prize at $383,000.
World Athletics' move could put pressure on other international federations to offer medal bonuses to athletes. This could transform the Olympic Movement into a pay-for-play competition, with what Pierre de Coubertin, who shaped the modern Olympic Games, called “a spirit of gain and professionalism,” or already heavily sponsored. Some argue that it only rewards elite athletes who have secured sponsorship. Approved transaction.
Asked by reporters whether the move was in response to the possibility that elite athletes may choose not to compete in the Olympics, Coe said only that he believed it was “the right thing to do.” As for the possibility that other international federations would be under pressure to follow suit, Coe stressed that his focus was solely on World Athletics.
The Association of Summer Olympic International Federations (ASOIF) continues to discuss the distribution of revenue from the Paris Games.