Track and field will be the first sport to introduce prize money at this summer's Olympics.
World Athletics has announced it will pay $50,000 (about £39,400) to the Olympic gold medal winner at the Paris Games.
Athletics' governing body announced it would set aside $2.4 million (£1.89 million) to pay gold medalists in 48 events on the Paris track and field program.
Team GB's heptathlon world champion Katarina Johnson-Thompson could be in line for the payout if she wins gold in Paris.Photo: Reuters
The relay team will split $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 said: “The introduction of prize money for Olympic gold medalists is a pivotal moment for World Athletics and athletics as a whole, empowering athletes and recognizing the important role they play in the success of any sport. It underlines our commitment to recognizing the Olympic competition.
“This is a continuation of the journey we started in 2015, with the aim that all funding World Athletics receives from the International Olympic Committee for the Olympic Games goes directly back into our sport. ”
He added: “It's impossible to put a market value on the effort and focus it takes to win an Olympic medal or represent your country at the Olympics, but it's important to start somewhere and ensure some success.'' I think it's important to get it,” he added. The revenue generated by athletes at the Olympic Games goes directly back to the people who make the Olympics a global spectacle. ”
World Athletics Federation President Sebastian Coe at the 2023 World Athletics Championships.Photo: Reuters
In an interview with Sky News, Mr Coe told athletes: “I would like to announce that I will be joining the negotiating table with our new partners, Sony, Deloitte and Morinaga, and the fact that they will be able to: “I want you to realize that I see a very clear correlation between them.” You can profit from the revenue generated by the growth of the sport. ”
He also said he didn't think the prize money would ruin the group's spirit “in the slightest.” Olympicsaid, “Rather than putting athletes first and last in consideration and singing a nice song about how important they are, that needs to be reflected.”
“We think this prize money is a significant amount of money available to us in the sport and could actually enable athletes to stay in the sport for another four years,” he added.
“And not everyone can win an Olympic title in the 100 meters or 1,500 meters, but we have 48 events and this will help the athletes.”
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Payment of prize money is dependent on World Athletics' ratification process, which involves athletes undergoing and clearing normal anti-doping procedures.
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The modern Olympics began life as an amateur sporting event, and although the International Olympic Committee does not award prize money, many medalists receive prize money from their governments, national sports organizations, or sponsors.
Gold medalists in various men's and women's running races with and without hurdles, as well as events such as long jump, high jump, triple jump, hammer throw, javelin throw, discus throw, pole vault and shot put, will receive prize money. .
Olympic winners in race walking, women's heptathlon and men's decathlon will also receive $50,000.
The International Olympic Committee (IOC) told Sky News: “The IOC redistributes 90% of all revenues, particularly to National Olympic Committees (NOCs) and International Federations (IFs).
“This means that every day, the equivalent of $4.2 million is used to support athletes and sports organizations at all levels around the world. It is up to each IF and NOC to decide how best to serve them.” ”
