In a landmark decision, World Athletics announced it will become the first international federation to award prize money at an Olympic Games, financially rewarding athletes for achieving the pinnacle of sporting success, starting at this summer’s Olympic Games in Paris.

A total prize pot of US$2.4 million has been ring fenced from the International Olympic Committee’s revenue share allocation, which is received by World Athletics every four years. This will be used to reward athletes who win a gold medal in each of the 48 athletics events in Paris with US$50,000.

This initiative by World Athletics also includes a firm commitment to extend the prize money at a tiered level, to Olympic silver and bronze medal winners at the LA 2028 Olympic Games.

When sharing details of the decision, World Athletics President Sebastian Coe commented: “The introduction of prize money for Olympic gold medallists is a pivotal moment for World Athletics and the sport of athletics as a whole, underscoring our commitment to empowering the athletes and recognising the critical role they play in the success of any Olympic Games.

“This is the continuation of a journey we started back in 2015, which saw all the money World Athletics receives from the International Olympic Committee for the Olympic Games go directly back into our sport.

The payment of prize money will depend upon the World Athletics ratification process, including athletes undergoing and clearing the usual anti-doping procedures. Each individual Olympic champion will receive US$50,000. Relay teams will receive the same amount, to be shared among the team.