World Athletics introduces prize money at Olympics

World Athletics made a groundbreaking announcement on Wednesday, declaring that it will introduce prize money at the upcoming Olympics in Paris. This move marks a significant departure from the traditional amateur ethos of the Games, with gold medalists in each of the 48 athletics events set to receive $50,000 (46,000 Euros) as a reward for their achievements.

The decision to offer prize money reflects the immense contribution of track and field athletes, who play a pivotal role in attracting a global audience to the Olympic Games. World Athletics President Sebastian Coe emphasized that this initiative aligns with the IOC's goal of acknowledging the dedication and hard work of competitors, underscoring the importance of rewarding athletes for their role in enhancing the overall success of the Games.

Notably, World Athletics informed the IOC of this decision shortly before the public announcement, highlighting the autonomy of international federations in shaping their future. The total prize fund of $2.4 million will be sourced from the IOC's revenue share allocation to World Athletics, demonstrating a collaborative effort to recognize and support athletes on the world stage.

In conclusion, the introduction of prize money at the Olympics represents a significant milestone in the evolution of the Games, emphasizing the value of athletes' contributions and setting a new precedent for rewarding excellence in sports.