World Athletics has made a groundbreaking decision to become the first international sports governing body to award prize money to Olympic gold medalists, starting with the Paris 2024 Games. This move marks a significant shift in the traditional approach to rewarding Olympic athletes.
A prize pot of $2.4 million has been allocated by World Athletics from the revenue share it receives from the International Olympic Committee every four years. This fund will be used to recognize and reward the exceptional achievements of track and field athletes who secure gold medals at the upcoming Olympic Games.
A gold medalist in each of the 48 track and field events in Paris will receive a prize of $50,000. Additionally, relay teams that clinch the gold medal will also be awarded $50,000 to be shared among the team members.
Historically, Olympic medalists have not received prize money, as the Games were originally established as an amateur competition. However, World Athletics' decision to introduce monetary rewards for gold medalists reflects a modern approach to recognizing the dedication and talent of elite athletes.
Looking ahead, World Athletics has expressed its commitment to extending the bonus initiative to Olympic silver and bronze medalists at the Los Angeles 2028 Olympic Games. Details regarding the reward structure and distribution for the silver and bronze medalists in 2028 will be finalized and announced at a later stage.
