Paris 2024 Olympic gold medalists to receive $50,000 prize money from World Athletics

In a groundbreaking move, Track and Field is set to become the first sport to introduce prize money at the Paris Olympics. World Athletics has allocated a total of $3.6 million for gold medalists across all 48 events. This announcement was made by Lord Coe on Wednesday, with payments starting from the Paris 2024 Games. The International Olympic Committee's revenue share allocation is the source of this fund. Silver and bronze medal winners are also expected to receive financial rewards, but the specific amounts and start date have not been disclosed yet. This initiative aims to provide more financial incentives for athletes, with relay teams splitting $50,000 among their members.