World Athletics to Award Olympics Gold Medalists Sh6.5m Each in Historic Decision

In a historic move, World Athletics announced on Wednesday its decision to offer prize money at the upcoming Olympic Games in Paris, making it the first international federation to do so.

Under this initiative, gold medal winners across all 48 athletics events in Paris will be awarded $50,000 (46,000 euros) each.

This significant step forward is made possible through a total prize fund of $2.4 million, sourced from the International Olympic Committee’s revenue share allocation granted to World Athletics every four years. Notably, both individual Olympic champions and relay teams will receive equal shares of the prize money.

Looking ahead, World Athletics confirmed that prize money will also be extended to silver and bronze medalists from the 2028 Olympics in Los Angeles.

Sebastian Coe, President of World Athletics, expressed his enthusiasm for this groundbreaking development, stating, “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 recognizing the critical role they play in the success of any Olympic Games.”

Coe emphasized the organization’s dedication to supporting athletes, highlighting their decision to reward all three medallists at the LA28 Olympic Games.

He also reflected on the journey that began in 2015, reaffirming that all funds received from the International Olympic Committee for the Olympic Games would be reinvested directly into the sport of athletics.

With the Paris Olympics scheduled from July 26 to August 11, this announcement marks a significant milestone in the evolution of athletics and the recognition of athletes’ contributions to the sport’s success.