World Athletics, the governing body of track and field, has announced that it will pay $50,000 in prize money to each gold medalist at the upcoming Paris Olympics.
This decision marks the first time that an Olympic sport will offer prize money, and it is a departure from the amateur past of the Olympics in one of its most-watched events. A total of $2.4 million has been set aside to pay gold medalists across the 48 track and field events at the Paris Olympics.
Relay teams will split the $50,000 between their members. Payments for silver and bronze medalists are planned to begin at the 2028 Olympics in Los Angeles. The prize money will come from the share of Olympic revenue that the International Olympic Committee (IOC) distributes to World Athletics.
Athletes must pass “the usual anti-doping procedures” at the Olympics before receiving the new prize money. Historically, the modern Olympics have been an amateur sports event, with the IOC not awarding prize money.
However, many medalists receive financial support from their governments, sports bodies, or sponsors.
The decision by World Athletics to pay prize money has been met with mixed reactions, with some praising it as a way to reward athletes for their hard work and dedication, while others have criticized it as a potential undermining of the Olympic spirit.
