“Olympic Sprinters Gear Up to ‘Take the Money and Run’…Literally!”

With the 2024 Paris Summer Olympics just weeks away, the Olympic Flame is ready to be lit. The athletes will have something more to compete for. Track and field is poised to make history as the inaugural Olympic sport to introduce prize money.

World Athletics plans to award $50,000 to each gold medalist at the upcoming Olympics in Paris, marking a significant milestone in athletic competitions.

World Athletics has dedicated $2.4 million in funding to all 48 Paris Olympic events as a tribute to outstanding performance. It is worth noting that the prize money will be shared among the relay team members, with $50,000 divided equally among them.

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Payments for silver and bronze medalists will begin from the 2028 Olympics in Los Angeles. This expansion reflects a broader commitment to fostering equality and support for athletes across all levels of achievement.

This inclusive approach recognizes the dedication and sacrifices made by athletes and underscores the collective effort and teamwork integral to the success of these events. Sebastian Coe, the President of World Athletics, stated that the revenue share we receive is because of our athletes being the stars of the show.

The decision to introduce prize money in track and field events at the Olympics marks a significant milestone in the world of sports. This move is in line with the changing dynamics of professional athletics. It is worth noting that the introduction of prize money sets a new precedent for recognizing and valuing the remarkable feats of Olympic athletes. As we eagerly await the Paris Olympics and beyond, this historic decision is a step forward for the betterment of the sports industry.