World Athletics has broken 128 years of Olympic tradition and announced a reward of US$50,000 (41,59,865 Rupees) to Gold medallists at the upcoming 2024 Olympics in Paris, which will take place from 26 July to 11 August 2024. This initiative marks a significant step as it is the first time an Olympic sport will offer such prize money. Out of the $2.4 million prize fund provided by the International Olympic Committee every four years. For relay teams, the $50,000 prize money will be divided among the winners’ pot.
2024 Paris Olympic Gold medalists to be rewarded
World Athletics also includes a firm commitment to extend prize money to all three medal winners at the 2028 Los Angeles Olympics.
“This is the continuation of a journey we started back in 2015, which sees all the money World Athletics receives from the International Olympic Committee for the Olympic Games go directly back into our sport,” World Athletics President Sebastian Coe remarked.
“We started with the Olympic dividend payments to our Member Federations, which saw us distribute an extra US$5m a year on top of existing grants aimed at athletics growth projects, and we are now in a position to also fund gold medal performances for athletes in Paris, with a commitment to reward all three medallists at the LA28 Olympic Games,” he added.
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With the historical decision, World Athletics (WA) will become the first international federation to award prize money at an Olympic Games. The decision could result in tension between World Athletics and the International Olympic Committee (IOC) due to the absence of formal approval from the governing body.
"World Athletics ... 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," World Athletics said in a statement.
Meanwhile, India is hopeful for a gold medal from Neeraj Chopra, who is the reigning Olympic champion and secured victory in the Tokyo Games. Chopra's achievement made him the first Indian track and field athlete, and second overall in individual sports to claim Olympic gold.
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