World Athletics awards $50,000 to Olympic gold medalist

Miltos Tendoflou, Katerina Stefanidis and all the top athletes athletics they will have an extra incentive in Paris in the summer.

In a landmark decision, the World Athletics announced today (April 10) that it will become the first international federation to award prize money at an Olympic Games, financially rewarding athletes for reaching the top starting at the Olympics.

From the International Olympic Committee’s revenue share, which World Athletics receives every four years, an amount of $2.4 million has been “sealed” to be used to reward athletes who win a gold medal in each of the 48 athletics events in Paris. The prize for each medal will be 50,000 dollars.

World Athletics’ initiative also includes a firm commitment to extend prize money on a staggered basis to Olympic silver and bronze medal winners at the 2028 Los Angeles Olympics.

“The introduction of prize money for Olympic gold medalists is a pivotal moment for world athletics and the sport of athletics as a whole, underscoring our commitment to empowering athletes and recognizing the critical role they play in the success of any Olympic Games.“, commented the president of World Athletics, Sebastian Coe.

“This is the continuation of a journey we started in 2015 where all the money World Athletics receives from the International Olympic Committee for the Olympic Games goes directly back into our sport“, continued the English official.

“We started with Olympic dividend payments to our Member Federations, which saw us distribute an additional $5 million annually on top of existing grants aimed at athletics development programs, and we are now also able to fund gold medal performances for athletes in Paris, with a commitment to reward all three Olympians at the L.A. Olympics.».

And he added:While it’s impossible to put a commercial value on winning an Olympic medal or the commitment and focus it takes to represent one’s country at the Olympics, I think it’s important to start somewhere and make sure that some of the revenue generated from our athletes at the Olympic Games goes directly back to those who make the Games the global spectacle that they are».

Payment of prize money will be subject to World Athletics’ validation process. Each individual Olympian will receive US$50,000. Relay teams will receive the same amount, which will be split between the team. The format and structure of the Olympic bonuses for 2028 will be announced shortly.