Track Gets Olympic Prize Money
Track and field will become the first sport to offer prize money at the Olympic Games, with World Athletics announcing that gold medalists at the Paris Olympics will receive $50,000 each. This marks a historic change in Olympic tradition and could potentially pave the way for other sports including weightlifting to seek similar reforms in athlete compensation.
- The $2.4 million prize fund is sourced from the revenue share that World Athletics receives from the International Olympic Committee (IOC) every four years. - This decision breaks from the 128-year tradition of the modern Olympic Games, which were founded on amateur ideals. Professional athletes were gradually allowed to compete starting in the late 20th century, with the IOC voting in 1986 to allow their participation, subject to individual sport federations' approval. - World Athletics President Sebastian Coe, a two-time Olympic gold medalist, initiated this change without a direct consultation with IOC President Thomas Bach. - The move has drawn criticism from other sports bodies, including the Association of Summer Olympic International Federations (ASOIF) and the head of cycling's governing body, who argue it undermines the Olympic spirit and the principle of solidarity. - While this is the first time an international federation will award prize money, many national Olympic committees already compensate their medalists. For instance, at the Tokyo Olympics, the U.S. Olympic and Paralympic Committee awarded $37,500 for gold medals, while Singapore offered over $700,000. - The International Boxing Association (IBA) followed World Athletics' lead, announcing it would also offer prize money for medalists at the Paris Games: $50,000 for gold, $25,000 for silver, and $12,500 for bronze. - World Athletics has committed to extending prize money to silver and bronze medalists at the Los Angeles 2028 Olympic Games.
