World Athletics announces USD 50,000 for Paris Olympics athletics gold winners

Monaco: A first for an Olympic sport, World Athletics will give USD 50,000 to gold medalists in 48 athletics events at this year's Paris Games. This will broaden the scope by providing reward money to all three medal winners at the Los Angeles 2028 Olympics.

India is looking to current Olympic champion Neeraj Chopra, who won gold at the Tokyo Games, to bring home a gold medal in Paris. He became the second individual sports athlete to win an Olympic gold medal overall and the first Indian in track and field, PTI reported.

With the landmark decision announced on Wednesday, World Athletics (WA) will become the first international federation to award prize money at an Olympic Games. The move could also cause friction between WA and the International Olympic Committee (IOC) as it does not have formal approval from the parent body.

“World Athletics … will become the first international federation to award prize money at an Olympic Games, financially rewarding athletes for achieving the pinnacle of sporting success, starting at this summer’s Olympic Games in Paris,” WA said in a statement.

World Athletics President Sebastian Coe said the introduction of prize money for Olympic gold medallists was a “pivotal moment” for the international body and the sport of athletics as a whole.

“A total prize pot of USD 2.4 million has been ring-fenced from the International Olympic Committee’s revenue share allocation, which is received by World Athletics every four years. This will be used to reward athletes who win a gold medal in each of the 48 athletics events in Paris with USD 50,000 ((Rs 41.60 lakh),” WA stated.

“This initiative by World Athletics also includes a firm commitment to extend the prize money at a tiered level, to Olympic silver and bronze medal winners at the LA 2028 Olympic Games.” Relay teams will receive the same amount, to be shared among the team.

The format and structure of the 2028 Los Angeles Olympics bonuses will be announced nearer the time of the Games.

The payment of prize money will, however, depend upon the World Athletics ratification process, including athletes undergoing and clearing the usual anti-doping procedures.

Coe said the move underscores WA’s commitment to empowering the athletes and recognising the critical role they play in the success of any Olympic Games.

“This is the continuation of a journey we started back in 2015, which sees all the money World Athletics receives from the International Olympic Committee for the Olympic Games go directly back into our sport,” he said.

“We started with the Olympic dividend payments to our Member Federations, which saw us distribute an extra USD five million a year on top of existing grants aimed at athletics growth projects, and we are now in a position to also fund gold medal performances for athletes in Paris, with a commitment to reward all three medallists at the LA28 Olympic Games.” Coe added that it is impossible to put a marketable value on winning an Olympic medal, or on the commitment and focus it takes to represent one’s country.

“I think it is important we start somewhere and make sure some of the revenues generated by our athletes at the Olympic Games are directly returned to those who make the Games the global spectacle that it is.”