Overall, the World Athletics Organization has made history by announcing prize money for gold medalists at the upcoming 2024 Olympics in Paris. This decision will allocate $2.4 million in total to athletes in the 48 athletics events held during the Games, setting a precedent in the 128-year history of the Olympics. While gold medalists will receive $50,000 alongside their medals, this initiative will be extended to silver and bronze medalists during the Los Angeles 2028 Olympics.
However, it is important to note that this pool prize money has not been allocated for Paralympic athletes, as the Paralympics event is administered separately by World Para Athletics. World Athletics President Sebastian Coe believes that introducing prize money for Olympic gold medalists is a major step towards empowering athletes and recognizing their role in the success of the Games. The organization aims to bring financial stability to track and field athletes and ensure they receive a share of the profit generated by their performances.
While World Athletics takes this significant step, the International Olympic Committee (IOC) emphasizes that a large portion of its revenue is returned to National Olympic Committees (NOCs) and International Federations (IFs) to support athletes and sports organizations. This decision to reward Olympic medalists will not violate the spirit of the Games, according to Coe, as the world of sports evolves and creates more opportunities for financially viable sports for athletes. While no discussions were held with IOC President Thomas Bach prior to this announcement, it is hoped that the IOC will welcome this historic move.
Athletes have expressed a range of viewpoints regarding this decision. Swedish-American athlete Armand Duplantis views it as a step in the right direction, while reigning Olympic champion Karsten Warholm believes the prize money will serve as motivation for athletes. However, some, like triple jump world record holder Jonathan Edwards, question the decision. Edwards sees it as odd since it is not a World Athletics event and feels it may undermine the IOC’s policies, which have traditionally not included prize money at the Olympics.
As World Athletics takes this bold step towards recognizing and rewarding Olympic medalists, the organization acknowledges the importance of supporting athletes financially and empowering them in their sporting endeavors. This decision represents a shift in Olympic tradition and sets a new precedent for how athletes are valued and compensated for their hard work and dedication to their sport. The future implications of this decision remain to be seen, but it is clear that World Athletics is committed to prioritizing the well-being and recognition of athletes on the world stage.
