The International Athletics Federation will award 46,000 euros for the first time to those who win an Olympic gold in Paris | Paris 2024 Olympic Games

The International Athletics Federation (World Athletics) announced this Wednesday that it will become the first international federation to award cash prizes at the Olympic Games, rewarding $50,000, about 46,000 euros at the current exchange rate, to the champions in Paris 2024. The entity chaired by the British Sebastian Coe will allocate $2.4 million from the income allocation from the International Olympic Committee that it receives every four years. That amount will be used to reward 46,000 euros to athletes who win a gold medal in each of the 48 athletics events in Paris for the first time in 128 years of history.

With this decision, World Athletics becomes the first international federation to award cash prizes to the gold medal winners at the Olympic Games, in this case in Paris, but with the intention of also extending it to the silver and gold medals. bronze at the 2028 Los Angeles Olympic Games. “The introduction of prize money for Olympic gold medalists is a pivotal moment for World Athletics and the sport of track and field as a whole, underlining our commitment to empowering athletes and recognizing the fundamental role they play in the success of the Olympic Games,” Coe said after announcing the measure.

“This is the continuation of a process that we began in 2015 and with which we intend that all the money that World Athletics receives from the International Olympic Committee for the Olympic Games returns directly to our sport to help it grow,” Coe explained in a conference virtual press conference with various media outlets “The majority of our income derives from our competitions, such as the World Cups and the Olympic Games. Although they are not an advantage financially, they give us a lot of prestige as a sport. That is why we want to give recognition to the athletes in these Paris Games with the commitment to also extend it to the following ones in Los Angeles,” he added.

Sebastian Coe recalled that this decision began to be forged, indirectly, with the “payments of Olympic dividends to the member federations, which allowed the distribution of an additional five million dollars per year in addition to the existing subsidies destined for athletics growth projects. ”. “We are now in a position to also finance gold medal performances for athletes in Paris, with the commitment to reward the three medalists of the Los Angeles 2028 Olympic Games,” he said. “We believe it is impossible to assign a commercial value to winning an Olympic medal or to the commitment and focus it takes to even represent a country at an Olympic Games. That is why it is important, at least, to ensure that part of the income generated by athletes at the Olympic Games is returned directly to those who make the Games a global spectacle,” he concluded.

Payment of prize money will depend on the World Athletics ratification process, including athletes undergoing and passing standard anti-doping procedures. Apart from the individual prizes, the relay teams will receive the same amount, 46,000 euros, which will be distributed among the entire team. The format and structure of the Olympic bonuses for Los Angeles 2028 will be announced later, according to World Athletics.

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2024-04-10 14:36:13
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