Track and field becomes first sport to give prize money to Olympic gold medalists
World Athletics, an international governing body, announced that it is setting aside $2.4 million to pay gold medalists across the 48 track and field events at this year鈥檚 Paris Olympics. The athletes will be the first Olympians to be paid prize money.
World Athletics President Sebastian Coe is pictured at a press conference at the conclusion of the World Athletics meeting at the Italian National Olympic Committee in Rome, Nov. 30, 2022.
Gregorio Borgia/AP File
Track and field is set to become the first sport to introduce prize money at the Olympics, with World Athletics saying April 10 it would pay $50,000 to gold medalists in Paris.
The move is a symbolic break with the amateur past of the Olympics in one of the games鈥� most-watched events.
The governing body of athletics said it was setting aside $2.4 million to pay the gold medalists across the 48 events on the track and field program for this year鈥檚 Paris Olympics. Relay teams will split the $50,000 between their members. Payments for silver and bronze medalists are planned to start from the 2028 Olympics in Los Angeles.
World Athletics President Sebastian Coe told reporters that the move is meant 鈥渢o recognize that the revenue share that we receive is in large part because our athletes are the stars of the show.鈥�
The prize money will come out of the share of Olympic revenue that that the International Olympic Committee distributes to World Athletics.
However, the move could upset the balance of power in the Olympic movement ahead of the Paris Games. Mr. Coe said World Athletics only gave the IOC 鈥渁 heads-up鈥� of its intentions on the morning of April 10, shortly before it published its announcement.
In response, the IOC said it was up to each sport鈥檚 governing body to decide how to spend its share of Olympic revenue.
鈥淭he IOC redistributes 90% of all its income, in particular to the National Olympic Committees [NOCs] and International Federations [IFs],鈥� the IOC said. 鈥淭his means that, every day, the equivalent of $4.2 million goes to help athletes and sports organizations at all levels around the world. It is up to each IF and NOC to determine how to best serve their athletes and the global development of their sport.鈥�
The modern Olympics originated as an amateur sports event and the IOC does not award prize money. However, many medalists receive payments from their countries鈥� governments, national sports bodies, or from sponsors.
鈥淚鈥檓 probably the last generation to have been on the 75-pence [95-cent] meal voucher and second-class rail fare, competing for my own country. So believe me, I do understand the nature of the transition we鈥檝e been in,鈥� Mr. Coe said.
The British runner won gold in the 1,500 meters at the 1980 and 1984 Games in an era when Olympic track was on the verge of opening up to professional athletes.
鈥淚t鈥檚 a completely different planet from when I was competing, so it鈥檚 very important that this sport recognizes the change in that landscape and the added pressures on many competitors.鈥�
The United States Olympic and Paralympic Committee awarded $37,500 to gold medalists at the last Summer Games in Tokyo in 2021. Singapore鈥檚 National Olympic Council promises $1 million for Olympic gold, a feat only achieved once so far by a Singaporean competitor.
In sports like tennis and golf, the Olympic tournament is the only time in a season that many pro players compete for free, with medals on offer but no prize money. But Mr. Coe didn鈥檛 want to speculate on whether other events could follow track and field鈥檚 lead.
鈥淚鈥檝e always made it a point not to speak on behalf of other sports,鈥� Mr. Coe said.
The move by World Athletics could be seen as an indicator of Mr. Coe鈥檚 intentions for the Olympics as a whole if he makes a run for the IOC presidency.
鈥淚 haven鈥檛 ruled it in, and I certainly haven鈥檛 ruled it out,鈥� Mr. Coe said last year when asked聽whether he would consider running聽for the IOC鈥檚 top post when Thomas Bach鈥檚 term ends in 2025. The IOC typically disapproves of any public campaigning for the presidency.
Olympic gold medalists will still earn less prize money than they would at World Athletics鈥� own world championships.聽Last year鈥檚 edition in Budapest聽paid out prize money down to eighth place with $70,000 on offer for individual gold medalists.
Athletes will have to pass 鈥渢he usual anti-doping procedures鈥� at the Olympics before they receive the new prize money, World Athletics added.
This story was reported by The Associated Press.