In a first for the Olympics, gold medalists at the 2024 Paris Games will receive compensation for their play.
Track and field becomes the first sport to introduce prize money at the Olympics, with World Athletics announcing it will pay $50,000 to gold medalists at the Paris Games.
The move, announced Wednesday, is symbolic of a break with the amateur past of some of the Olympics' most-watched sports.
The governing body for track and field has announced that it will set aside $2.4 million to pay gold medalists in the 48 men's, women's and mixed events in the track and field program at this year's Paris Olympics. The relay team will divide his $50,000 among its members. Payments to silver and bronze medalists are expected to begin at the 2028 Los Angeles Olympics.
World Athletics president Sebastian Coe told reporters that the move “recognizes that a large part of the revenue share we receive comes from our athletes being the stars of the show.” He said it was his goal.
The prize money comes from a portion of Olympic revenues distributed to World Athletics by the International Olympic Committee (IOC).
But the move could upset the balance of power in the Olympic movement ahead of the Paris Games. Coe said World Athletics only gave the IOC “advance” of its intentions on Wednesday morning, shortly before the announcement.
In response, the IOC said it was up to each sport's governing body to decide how to spend some of its Olympic revenue.
“The IOC redistributes 90% of all revenues, especially to national Olympic committees.” [NOCs] and League of Nations [IFs]” the IOC said in a statement. “This means that every day the equivalent of $4.2 million is supporting athletes and sports organizations at all levels around the world. How can we best serve athletes and the global development of sport? It is the responsibility of each IF and NOC to decide whether
The modern Olympics began life as an amateur sporting event, and the IOC does not award prize money. However, many medalists receive compensation from their governments, national sports organizations, and sponsors.
The United States Olympic and Paralympic Committee has awarded $37,500 to the gold medalists at the final Summer Olympics, to be held in Tokyo in 2021. Singapore's National Olympic Council has pledged $1 million for an Olympic gold medal, a feat that has only been achieved once before by a Singaporean athlete.
In sports like tennis and golf, the Olympic tournament is the only place where many professional athletes compete for free medals and no prize money. Coe did not want to speculate on whether other sports would follow track and field's footsteps.
“I've always tried not to speak on behalf of other sports,” Coe said.
There is no indication yet that prize money will be awarded in other Olympic sports.
