World Athletics has announced a groundbreaking change in Olympic athletics. The organization will now provide monetary rewards to Olympic gold medalists, making it the first international federation in history to do so. Champions will be awarded 46,000 euros. Silver and bronze medalists will have to wait until the 2028 Los Angeles Olympics to receive a financial reward from World Athletics.
‘The introduction of prize money for Olympic gold medalists is a momentous occasion for World Athletics and the sport of athletics as a whole. It highlights our commitment to empower athletes and recognize the crucial role they play in the success of every Olympic Games,’ explained World Athletics President Sebastian Coe in a statement. ‘This is a continuation of a journey we started in 2015, where all the money World Athletics receives from the International Olympic Committee for the Olympic Games is reinvested directly into our sport.’
The International Olympic Committee does not provide prize money to athletes for their performances at the Olympic Games. However, they are often rewarded by their respective governments.
