Shaunae Miller-Uibo of the Bahamas wins the gold medal in the women’s 400 meters during the Tokyo Olympic Games in August 2021.
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Matthias Hangst/Getty Images
Shaunae Miller-Uibo of the Bahamas wins the gold medal in the women’s 400 meters during the Tokyo Olympic Games in August 2021.
Matthias Hangst/Getty Images
World Athletics, the governing body that oversees athletics competitions around the world, will award $50,000 in prize money to gold medalists at the 2024 Olympic Games in Paris.
In doing so, the organization will become the first international federation to offer prize money directly to Olympic medalists, a historic moment in the slow but sure move away from amateurism at the Olympic Games.
In total, World Athletics’ prize pool for 2024 will amount to $2.4 million for the 48 men’s and women’s track and field events, which include track and field competitions like 100-meter run, pole vault and javelin, as well as road races like marathon and javelin. running walk. Relay teams of four people will share the winnings of $12,500 each.
In Wednesday’s announcement, World Athletics also said it would pay out prize money on a tiered basis to all medalists at the 2028 Olympic Games in Los Angeles, with details to be announced closer to the event .
“While it is impossible to put a market value on winning an Olympic medal, or on the commitment and focus it takes to represent your country at the Olympic Games, I think it is important to start somewhere and ensure that a portion of the revenue generated by our athletes at the Olympic Games goes directly to those who make the Games the global spectacle that they are,” said Sebastian Coe, President of World Athletics and double Olympic gold medalist.
The prize money comes from payments made to World Athletics by the International Olympic Committee, which brings in billions of dollars in revenue from broadcast deals and other sponsorships. The IOC then redistributes millions each year to international sports federations and national Olympic committees.
The IOC was only aware of the decision shortly before World Athletics publicly announced it, Coe said.
No other sports federation has announced similar plans to compensate medalists.
Some countries grant their athletes bonuses for medals
Many Olympic athletes receive bonus medals from their home countries. The U.S. Olympic and Paralympic Committee awards its athletes $37,500 for gold medals, $22.50 for silver and $15,000 for bronze. Some countries that field far fewer athletes offer much larger bonuses: Hong Kong offers the equivalent of around $638,000 to gold medalists, and Singapore offers around $740,000. But other countries, including the United Kingdom and New Zealand, offer no cash prizes.
The $50,000 prizes for gold medalists highlight World Athletics’ “commitment to empowering athletes and recognizing the critical role they play in the success of all Olympic Games,” Coe said.
The costs of training and competing in the Olympics can be extremely high for athletes, who must pay thousands of dollars each year to train and travel to events, while foregoing traditional career income to pursue their sport . Like many countries, the United States does not provide direct federal support for its Olympic athletes.
Some athletes, especially those who compete in sports that attract the highest viewership, such as gymnastics, may earn money through sponsorship deals.
Karsten Warholm, a Norwegian sprinter who won a gold medal at the 2020 Tokyo Olympics, welcomed the news.
“I think it’s good, so I want to salute them for that,” Warholm told Reuters. Norway is one of the countries that does not offer a bonus to its medalists. “It doesn’t change my motivation to win, because I’m not here for the money at the Olympics. The gold medal is worth much more to me personally.”
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