World Athletics has made a groundbreaking announcement that it will be the first sports federation to provide prize money at the Olympic Games.
Starting with the Paris Olympics this summer, athletes winning gold will receive $50,000 (R1-million), with plans to extend these rewards to silver and bronze medalists by the Los Angeles 2028 Games.
This decision introduces a $2.4-million (R45-million) prize pot for athletics events, BBC Sport reported.
Lord Sebastian Coe, the president of World Athletics, called this move pivotal. He said World Athletics’ move wants to offer athletes more financial stability and wanted to make sure athletes benefit directly from the profits they make possible.
The Olympics have traditionally been viewed as an amateur competition, with no direct prize money for winners.
The change has been welcomed by athletes and former Olympians like Greg Rutherford and Dame Denise Lewis, who see it as a positive step towards recognising the sacrifices and contributions of athletes.
While the International Olympic Committee (IOC) spreads funding through international federations and national Olympic committees, it has not historically awarded prize money directly to athletes.
This new approach by World Athletics is seen as a way to support athletes more directly.
Critics, like Jonathan Edwards, have raised concerns about this move, questioning if it goes with the Olympic spirit and the IOC’s traditional stance on amateurism.
Compiled by staff writer
Pictured above: Paris 2024 gold medal.
Images source: Paris 2024/X
