Paris 2024: Athletics prize money for Olympics - explained!

World Athletics (WA) decided to introduce prize money for athletes participating at the 2024 Paris Olympics.

Karsten Warholm backed World Athletics’ decision to offer a prize money for Olympics. | Photo Credit: AFP

Stepping away from a 128-year-old tradition, World Athletics (WA) has decided to introduce prize money for athletes participating at the 2024 Paris Olympics.

“While it is impossible to put a marketable value on winning an Olympic medal or on the commitment and focus it takes to even represent your country at an Olympic Games, it is important we make sure some of the revenues generated by our athletes are directly returned to those who make the Games the global spectacle that it is,” said WA President Sebastian Coe while announcing the initiative.

What is the prize money on offer in athletics at the Paris Olympics and where is it coming from?

The total prize fund of 2.4 million dollars will come from the International Olympic Committee’s revenue share allocation that World Athletics receives every four years.

How much will the athletes get?

Each Olympic champion will receive US$50,000. Relay teams will receive the same amount, which is to be shared among the team.

WA plans to expand the prize money structure to silver and bronze medallists by the 2028 Games.

How has the response to the initiative been?

WA’s initiative received a warm welcome from athletes. “I think it’s good so I want to salute them for it. It doesn’t change my motivation to win because for the Olympics I’m not in it for the money. The gold medal is worth a lot more to me personally,” said Norway’s Olympic 400m hurdles champion Karsten Warholm.

But the response from other world sports bodies and their leaders haven’t been positive.

David Lappartient, president of the International Cycling Union (UCI), made no bones about his displeasure.

“If we concentrate money on top athletes, a lot of opportunities will disappear for athletes all over the world. We really believe that this is not the Olympic spirit. The proposal was not discussed,” said Lappartient.

The International Tennis Federation said it had no plans to follow suit and pay prize money and any change in the future “would be made in consultation with the Association of Summer Olympic International Federations and the International Olympic Committee”.

But, the boxing governing body, the International Boxing Association (IBA), declared rogue by the International Olympic Committee, announced in May that it would pay USD 50,000 in prize money to each gold medallist at the Paris Games.

(With inputs from World Athletics, Reuters)