In a historic decision, the highest governing body of athletes worldwide, World Athleticshas announced that it will be the first international federation to award Olympic Games prize money.
In this way, it will financially reward the athletes who reach the top of the podium in Paris 2024 Gameswhich will start next July 26.
According to the announcement, a total fund of 2.4 million dollars (about €2.2 million) from the International Olympic Committee’s revenue-sharing allocation that World Athletics receives every four years.
The prizes for the athletes and relay teams that achieve the Olympic gold medal are 50,000 dollars (about 46,000 euros) and will be extended in a staggered manner to silver and bronze medal winners from Los Angeles Olympic Games 2028.
The president of World Athletics, Sebastian Coecommented that “The introduction of prize money for Olympic gold medalists is an important moment for World Athletics and the sport of athletics as a whole”, and emphasized the “commitment to empowering athletes and recognizing the key role which they play in the success of any Olympic Games.
The head of the international organization added that “This is the continuation of a journey that we started in 2015, where all the money that World Athletics receives from the International Olympic Committee for the Olympic Games goes directly back to our sport.”
Finally, Coe explained that “While it is impossible to assign a commercial value to winning an Olympic medal, or to the commitment and concentration required to represent a country at an Olympic Games, I think it is important that we start with one place and ensure that some of the revenue raised by our athletes at the Olympic Games goes directly back to the people who make the Games the global spectacle that they are.”
The announcement comes after the noise generated in the world of athletics by the announcement of a private initiative to organize some ‘Improved Gameplay where doping will be allowed and large prize money will be awarded to participating athletes.
Source: La Verdad
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