Track and field is set to become the first sport to introduce prize money at the Olympics, with World Athletics announcing on Wednesday that it will pay $50,000 to gold medalists at the Paris Games.
The move marks a symbolic break with the amateur past of one of the most-watched Olympic sports.
Athletics’ governing body announced it would set aside $2.4 million to pay gold medalists in the 48 events on this year’s Paris Olympic track and field program. 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.
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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 the Olympic revenue that the IOC distributes to World Athletics.
But the move could upset the balance of power in the Olympic movement ahead of the Paris Games. Coe said World Athletics gave “advance” to the International Olympic Committee of its intentions on Wednesday morning, shortly before the announcement. The IOC did not immediately respond to a request for comment on the World Athletics Programme.
Lamont Marcel Jacobs of Italy poses with his gold medal after the men’s 100m final at the 2020 Summer Olympics in Tokyo on August 2, 2021. Track and field is set to be the first sport to introduce prize money at the Olympics. (AP Photo/Francisco Seco, File)
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, or sponsors.
“I’m probably the last generation to compete for our country, taking advantage of 95-cent meal tickets and second-class rail fares. So believe me, I understand the nature of the vicissitudes we’ve been through. “I’m doing it,” Ko said.
The British runner won gold in the 1,500 meters at the 1980 and 1984 Olympics, at a time when Olympic track and field was opening up to professional athletes.
“It’s a completely different planet than when I was competing, so it’s really important that the sport recognizes its changing landscape and the increased pressure on many competitors.”
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.
It is the only Olympic tournament of the season in sports such as tennis and golf, where many professional athletes can win medals for free but no prize money. But Coe didn’t want to speculate on whether other sports would follow track and field’s lead.
“I’ve always tried not to speak on behalf of other sports,” Coe said.
World Athletics’ move could be seen as an indication of Coe’s intentions for the Olympics as a whole, should he run for IOC president.
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Asked last year if he would consider running for the IOC leadership position when Thomas Bach’s term ends in 2025, Coe said: “I haven’t ruled out that possibility, I certainly have.” Not really,” he replied. The IOC usually does not approve any proposals. A public election campaign aimed at becoming president.
Olympic gold medalists still receive less prize money than the World Athletics Federation’s own world championships. At last year’s competition in Budapest, the prize money was lowered to eighth place, with $70,000 offered to the individual gold medalist.
World Athletics added that athletes will have to pass “normal anti-doping procedures” at the Olympics before receiving the new prize money.
