Olympic champions will now receive $50,000 for winning gold medals at the Paris 2024 Games. This is a big change because, for the past 128 years, Olympic winners didn’t get prize money.
Athletics is the first sport to offer money to Olympic champions. World Athletics (WA) decided that each of the 48 gold medallists in Paris will get $50,000. WA President Sebastian Coe said they want to share some of the money athletes bring to the Games with those who make it special.
Coe explained that this doesn’t go against what the International Olympic Committee (IOC) believes. He thinks it’s a way to appreciate the hard work athletes put in to make the Olympics successful.
Karsten Warholm, an Olympic champion from Norway, thinks this change is good. He said the money won’t change his motivation to win; the gold medal means a lot more to him personally.
The IOC mentioned that each sports federation and national Olympic committee decides how to support athletes and their sports. They also mentioned that they give most of their income to help athletes and sports around the world.
In Tokyo, a total of $540 million was given to the 28 sports, and Athletics received the most at $40 million.
The Olympics used to be only for amateurs, but that changed in 1988 when professionals were allowed to compete in some sports like tennis and soccer. Now, many sports welcome professional athletes.
Athletics is the biggest Olympic sport, but many athletes, including medal winners, often face financial challenges.
Starting from the 2028 Los Angeles Games, athletes who win silver and bronze medals in athletics will also receive prize money.
