World Athletics Federation to award cash prizes to athletes who win gold medals

Symbol of the 2024 Summer Olympics in Paris, France.

World Athletics will become the first international sports federation to award cash prizes to athletes who win gold medals at the Olympic Games. The 2024 Paris Olympics will be the first event to mark this "historic milestone".

In an announcement released on April 10, the World Athletics Federation stated that athletes who win a gold medal in one of the 48 athletics events at the 2024 Paris Olympics will receive a bonus of 50,000 USD.

The relay teams will receive the same amount and will be split equally among the teams. World Athletics said the entire $2.4 million prize money will come from the profit-sharing fund that the International Olympic Committee (IOC) has given the federation over the past four years.

For now, only gold medalists will receive bonuses and IAAF will extend the award to silver and bronze medalists from the 2028 Olympics, scheduled to take place in Los Angeles, USA.

World Athletics President Sebastian Coe stressed that giving bonuses to Olympic gold medalists is a turning point for World Athletics and athletics.

This demonstrates the federation's commitment to empowering athletes and recognizing their vital role in success at any Olympic Games.

Athletics began paying bonuses to athletes who won gold medals at the World Athletics Championships in 1997.

Most recently, gold medalists at the 2023 championship in Budapest received a prize money of $70,000.

According to Vietnamplus

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