World Athletics announced this Wednesday that it will become the first international federation in award cash prizes at the Olympic Gamesrewarding with $50,000 dollars to the champions in Paris 2024.
The entity chaired by the British Sebastian Coe will allocate $2.4 million dollars from the International Olympic Committee revenue allocation it receives every four years. This amount will be used to reward $50,000 to athletes who win a gold medal in each of the 48 track and field events in Paris.
This World Athletics initiative also includes a firm commitment to extend prize money on a tiered level to Olympic medal winners in silver and bronze at the 2028 Los Angeles Olympic Games.
“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 the Olympic Games“said Coe, after the announcement of the measure.
Payment of prize money will depend on the World Athletics ratification process, including athletes submitting and exceed the usual anti-doping procedures.
Apart from the individual awards, The relay teams will receive the same amount ($50,000), which will be distributed among the entire team.
The format and structure of the Olympic bonuses for Los Angeles 2028 will be announced later, World Athletics reported.
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