"This could be a watershed moment for the Olympic Games" - Fans react to World Athletics announcing prize money for Paris Olympics medalists 

In a landmark moment for the world of track and field ahead of the Paris Olympics, World Athletics has announced that gold medalists at the 2024 Games will be awarded $50k each.

So far in the history of the Olympics, no sport has ever offered cash prizes for their athletes. Most medalists from the Games are compensated by their national governments and any branding deals they might receive after their success, causing significant pay disparity between sportspeople from different backgrounds.

Now, World Athletics has announced cash rewards worth 2.4 million USD at the Paris Olympics, with gold medalists in all track and field events receiving 50k each. Relay team will also be given the same amount, to be shared amongst the team.

Reaction to this news, fans of track and field as well as sporting enthusiasts across the world lauded this decision by the WA.

“This could be a watershed moment for the Olympic Games,” one fan on X (formerly Twitter) wrote.

“Wow! The first ever prize money ever given at an Olympics. Historic, albeit not given by the IOC itself. It's about time,” another fan chimed in.

A few fans pointed out that the absence of prize money all these years was unfair in the first place.

“Great to see, and should set off a domino effect. The absence of prize money from the Games - given the massive revenue it generates - has long made no sense,” one fan wrote.

“The fact that you lot tried to twang athletes into believing competing for their country is an “honour” that doesn’t come with payment, is beyond me. They deserve more than $50k a pop too given how much money the Olympics generates!,” another commenter opined.

Meanwhile, other track and field enthusiasts termed this development ahead of the Paris Olympics as huge.

“Huge move in track and field world,” one fan posted.

“This is HUGE!!! It’s long overdue, but it’s a great start. We’re a professional sport at the end of the day. Athletes should be getting paid at the Olympics, which is where we have the most viewers as a sport,” added another.

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World Athletics president, Sebastian Coe on introducing prize money for the Paris Olympics and LA 2028 Games

World Athletics president, Sebastian Coe, has hailed the decision to introduce prize money for Paris Olympic medalists as a ‘pivotal moment' in the sport of athletics.

In a press release on Wednesday, 10th April, the governing body of the sport announced the 50k cash prize for gold medalists at the Paris Olympics, while committing to extend the rewards to all podium finishers by the LA 2028 Games.

Speaking on this decision, Coe said:

“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.”

He went on to add that while the value of an Olympic medal was immeasurable, this was a small step from World Athletics to ensure that athletes are fairly compensated for their efforts at making the Games a success.

“While it is impossible to put a marketable value on winning an Olympic medal, or on the commitment and focus it takes to even represent your country at an Olympic Games, I think it is important we start somewhere and make sure some of the revenues generated by our athletes at the Olympic Games are directly returned to those who make the Games the global spectacle that it is.”

There will be 48 track and field events held at the Paris Olympics, and the prize money will be subject to the World Athletics ratification process, as well as athletes clearing the necessitated anti-doping tests and procedures.