Olympics Breakthrough: Athletics Leads as First Sport to Award Prize Money

Photo : AFP

Athletics has made history by becoming the first sport to offer prize money to Olympic champions. The announcement came on Wednesday, revealing that the 48 gold medallists at the upcoming Paris Olympics will each earn $50,000. This move marks the end of a 128-year tradition of no prize money for Olympic champions.

While the concept of purely amateur competition has faded over time, with athletes often receiving payments from sponsors and professionals participating for years, the decision by World Athletics (WA) represents a significant shift.

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Sebastian Coe, president of World Athletics, emphasized that offering prize money aligns with recognizing athletes' efforts for the overall success of the Games. He stated, "I don't believe this is remotely at variance with the concept that the IOC often talks about, which is recognizing the efforts that our competitors make for the overall success of the Games."

Norwegian Olympic champion Karsten Warholm welcomed the news, noting that while the monetary reward is appreciated, his motivation to win at the Olympics remains unchanged.

The International Olympic Committee (IOC) stated that it is up to each International Federation (IF) and National Olympic Committee (NOC) to determine how best to serve their athletes and develop their sports. The IOC redistributes 90% of its income, providing support to athletes and sports organizations worldwide.

Athletics received the most funding at the Tokyo Games, with $40 million allocated. The move to introduce prize money reflects the evolving landscape of Olympic sports, as the amateur ethos has been eroded over time.

While professionals have been allowed to compete in various sports since the 1988 Seoul Olympics, Athletics has maintained its traditional stance until now. The decision to offer prize money aims to address the financial challenges faced by many athletes and make the sport more financially viable for future generations.

Olympic silver and bronze medallists in Athletics will also receive prize money, starting from the 2028 Los Angeles Games. Sebastian Coe, a former Olympic gold medallist himself, emphasized the importance of this change, highlighting the need to support young athletes and make the sport financially sustainable for them.