NEW DELHI: In a historic move, track and field is set to introduce prize money at the Olympics for the first time, with gold medalists at the Paris Olympics slated to receive $50,000 each.
World Athletics announced on Wednesday that they would allocate $2.4 million to reward gold medalists across the 48 events in the track and field program.
For relay teams, the $50,000 prize money will be divided among the members. However, payments for silver and bronze medalists will commence from the 2028 Olympics in Los Angeles.
World Athletics President Sebastian Coe emphasized the significance of acknowledging athletes' efforts, stating, "While it is impossible to put a marketable value on winning an Olympic medal... 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."
Traditionally, the Olympic Games have been associated with amateur sports, and the International Olympic Committee (IOC) has not awarded prize money. However, many medalists receive financial rewards from their respective countries' governments, national sports bodies, or sponsors.
The introduction of prize money in track and field marks a significant step toward recognizing athletes' contributions and achievements on the Olympic stage. It reflects a broader trend in sports towards rewarding athletes for their performances and dedication.
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