The International Athletics Federation (World Athletics) announced this Wednesday that it will become the first international federation to award cash prizes at the Olympic Games, rewarding $50,000, about 46,000 euros at the current exchange rate, to the champions in Paris 2024. The entity chaired by the British Sebastian Coe will allocate $2.4 million from the income allocation from the International Olympic Committee that it receives every four years. That amount will be used to reward $50,000 to athletes who win a gold medal in each of the 48 athletics events in Paris.
This World Athletics initiative also includes a firm commitment to extend tiered prize money to Olympic silver and bronze medal winners at the Los Angeles 2028 Olympic Games. “The introduction of prize money for gold medalists “Olympics is a pivotal moment for World Athletics and the sport of athletics as a whole, underlining our commitment to empowering athletes and recognizing the critical role they play in the success of the Olympic Games,” said Coe, following the announcement of the move. .
Payment of prize money will depend on the World Athletics ratification process, including athletes undergoing and passing standard anti-doping procedures. Apart from the individual prizes, the relay teams will receive the same amount, $50,000, which will be distributed among the entire team. The format and structure of the Olympic bonuses for Los Angeles 2028 will be announced later, World Athletics reported.
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