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World Athletics has introduced prize money for Olympic gold medallists sparking debate and potential changes in recognition and reward for athletes.
On Wednesday, World Athletics made a groundbreaking announcement, breaking a 128-year Olympic tradition by introducing prize money for gold medallists in track and field at the upcoming Paris 2024 Olympics
Each gold medal winner is set to receive $50,000 (Ksh 6.5million), a decision that has ignited discussions and raised several questions about the future of athletics and the Olympics at large.
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At the heart of this landmark decision is World Athletics president Lord Coe, who views this move as a "continuation of the journey" that began with his election in 2015.
This change comes against a backdrop of vocal discontent among top athletes including USA’s Noah Lyles and Team GB’s Josh Kerr who have openly criticized the lack of prize money at major events. It is clear that while the introduction of prize money aims to honor the athletes' contributions, it also addresses growing unrest within the sport's ranks.
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13:30 - 10.04.2024
World Athletics unveil prize money scheme for gold medallists at Paris 2024 Olympic Games
World Athletics is keen to become the first international federation to introduce prize money for gold medallists starting with this year's Olympic Games in Paris, France.
Interestingly, Lord Coe refutes the idea that this move is a response to Michael Johnson's proposed breakaway league, which threatens the Diamond League more than the Olympics. Instead, the prize money is to be funded by the share World Athletics receives from the International Olympic Committee (IOC), which amounted to a substantial £6.5 billion in broadcast revenue for the four years leading up to the Tokyo Games.
However, the impact of this prize money on athletes' incomes might not be as significant as expected. The $50,000 (Ksh 6.5 million) prize is notably less than the $55,700 (Ksh7.2 million) awarded to gold medallists at the previous year’s World Championships. Despite this, the bonus is seen as a welcome gesture, particularly for athletes in less popular events who may not benefit as much from sponsorship deals.
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A notable omission from this new prize policy is para athletes, as World Athletics does not govern the para side of the sport. This exclusion raises important questions about equality and whether World Para Athletics will introduce a similar reward system.
The introduction of prize money by World Athletics may well prompt athletes from other sports to advocate for similar recognition.
However, given the financial disparities across different sports, whether such a move is feasible remains a matter of speculation.
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Lord Coe, undeterred by suggestions that this could lead to unforeseen consequences, maintains a cautious stance. Yet, his ambition to one day lead the IOC hints at a broader vision where prize money could become a norm across all Olympic sports.
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