Track and field to pay prize money at Paris Olympics; to become first sport to pay prize money

World Athletics has announced that it will award prize money at the Olympic Games starting this summer in Paris.

>> Read more trending news

World Athletics said it would pay $50,000 to track and field gold medalists, The Associated Press.

The organization said that silver and bronze medalists in the sport will begin to get paid lesser amounts in 2028, The New York Times reported.

The governing board said that $2.4 million will be set aside for gold medalists in 48 events, the AP reported.

“The introduction of prize money for Olympic gold medallists is a pivotal moment for World Athletics and the sport of athletics as a whole, underscoring our commitment to empowering the athletes and recognising the critical role they play in the success of any Olympic Games,” World Athletics President Sebastian Coe said.

Coe added that the federation gave the International Olympic Committee “a heads-up” just before the announcement was made public. The AP reported that World Athletics’ plans could “upset the balance of power” at the games.

“The IOC redistributes 90% of all its income, in particular to the National Olympic Committees (NOCs) and International Federations (IFs),” the IOC said in response, according to the AP. “This means that, every day, the equivalent of $4.2 million goes to help athletes and sports organizations at all levels around the world. It is up to each IF and NOC to determine how to best serve their athletes and the global development of their sport.”

© 2024 Cox Media Group