World Athletics Introduces Cash Prize For Gold Medalists At Paris Olympics

World Athletics has announced that it will offer a massive USD50,000 (Approx Sh6.5mn) for every gold medalist at the Olympic Games in Paris this year, a massive announcement that will definitely spark intense competition.

Previously, medalists at the Olympic Games have not been handed cash rewards but World Athletics now becomes the first governing body to offer financial incentive at the quadrennial games.

According to a Statement, a total prize pot of USD2.4mn has been ring fenced from the International Olympic Committee’s(IOC)  revenue share allocation, which is received by World Athletics every four years.

There are 48 athletics disciplines at the Olympic Games.

The news will be a further welcome financial boost for Kenyan athletes, as a gold medalist will now be assured of at least Sh11mn from their sweat, with the Kenyan government having announced that every global gold medalist will be awarded Sh5mn.

“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,” World Athletics boss Seb Coe said in the statement.

World Athletics says it will start by rewarding gold medalists in Paris, but the plan is to reward all medalists starting from the 2028 Games in Los Angeles.

The payment of prize money will depend upon the World Athletics ratification process, including athletes undergoing and clearing the usual anti-doping procedures.