In a historic move by World Athletics, track and field athletes at the Paris 2024 Olympics will for the first time receive prize money, with gold medallists awarded $50,000 each, in a bid to enhance the financial sustainability of the sport.
For the first time in Olympic history, track and field athletes at the Paris 2024 Olympics will be eligible for prize money, with gold medal winners in all 48 events receiving $50,000 each. This groundbreaking initiative, announced by World Athletics, marks a significant shift in the remuneration of Olympic athletes and is part of a broader strategy to enhance the financial viability of competing in top-tier athletics. The total prize pot for these gold medal winners amounts to $2.4 million, sourced from the funds World Athletics receives from the International Olympic Committee (IOC).
Sebastian Coe, president of World Athletics and a former Olympic gold medallist, stated that this move aims to acknowledge athletes’ contributions and maintain the sport’s sustainability. He emphasized the importance of balancing recognition with the commercial aspects of the sport, suggesting that prize money will also be extended to silver and bronze medal winners at the 2028 Los Angeles Games.
World Athletics’ decision, while autonomous, aligns with the IOC’s ongoing efforts to support athletes and sports organizations globally, as 90% of its income is redistributed within these groups. Coe expressed confidence that the IOC would support this initiative despite the lack of a prior consultation. The prize allocation entails robust anti-doping measures, ensuring that only compliant athletes benefit.
This decision has drawn various reactions, including concerns over its impact on the traditional Olympic spirit of amateurism. However, many athletes, including prominent figures like Armand Duplantis and Karsten Warholm, have praised the move, highlighting the evolving professional landscape of sports and the necessity for appropriate financial compensation.
