World Athletics (WA) has announced to give prize money to Olympic gold medallists and end a 128-year tradition.
- With this announcement, athletics has become the first sport to offer prize money to Olympic champions.
- As per World Athletics President Sebastian Coe, gold medallists in Paris this year will earn 50,000 dollars each.
- Olympic silver and bronze medal winners in athletics will also receive prize money starting at the 2028 Los Angeles Games.
- The prize money will come out of the share of Olympic revenue that that the IOC distributes to World Athletics.
- The IOC redistributes 90% of all its income, in particular to the National Olympic Committees (NOCs) and International Federations (IFs).
- The modern Olympics originated as an amateur sports event and the IOC does not award prize money.
