How much prize money will 776 Invitational offer to athletes?Everything you need to know about the highest-paying female-only track event in the world

Athletes who win an event at the 776 Invitational will earn $60,000 while those who finish second will pocket $25,000. The competitors who finish in the first six spots will each be paid.

The 776 Invitational is a female-only track event introduced by Serena Williams' husband, Alexis Ohanian, who is the owner of the 776 capital firm. He made the announcement of the Invitational at the Business of Women’s Sports Conference in New York City while sharing the stage with two-time Olympic medalist Gabby Thomas.

Ohanian's venture capital company, Seven Seven Six, will sponsor the female-only invitational with the highest prize money of all the track events in the world. The 776 Invitational is scheduled to be held in September, following the greatest sporting event in Paris.

The prize money for the athletes finishing in top positions at the Invitational surpasses the prize money awarded at the Diamond League meetings and finals. The athlete clinching first place in any individual event at the 776 Invitational will receive a prize money of $60,000. The Diamond League offers $10,000 per meet and $30,000 in the final.

The athletes securing second place in any track event at the inaugural event in September will take home $25,000, which is significantly better than the Diamond League offering $6,000 per meet, and $12,000 in the final. The third-placed athlete will collect $10,000. Athletes settling in the next two places in any track event will earn prize money of $8,000 and $5,000, respectively.

The female-only Invitational will award the prize money to the first six finishers of the events, with the sixth-place winner securing $2,500.

"Great opportunity to increase visibility" - Gabby Thomas on what 776 Invitational means for women's sport

Gabby Thomas speaks during a conversation with Alexis Ohanian at the Business of Women Sports Summit presented at Chelsea Factory in New York City.

Gabby Thomas showed confidence in the 776 Invitational to draw attention to women's sports.

During a post-race interview with Lets Run Dot Com, at the 2024 USATF LA Grand Prix, Thomas expressed her excitement for the Invitational while emphasizing its potential to increase the visibility of women's track and field. She also highlighted that the event incorporates athlete's feedback to create a better track experience.

"I think women's sports is having an amazing moment right now," Thomas said. "I'm really excited about it. What's really exciting about the 776 Invitational is that it really is for the athletes. I mean Alexis has consulted with us and asked us what we want to see what we want to be changed, what we like about track," Thomas said.

"So I think all those changes will be implemented into the track meet and it's just a great opportunity to increase visibility to sport, especially women's sport, especially women's track and field," she added.

The inaugural event of the Invitational will feature 100m, 200m, 400, 100m hurdles, 800m, and 1500m.