World Athletics introduces prize money for Olympic gold medallists

By Sports Desk April 10, 2024

In a landmark decision, World Athletics has today (10 April) announced it 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.

A total prize pot of US$2.4 million has been ring fenced from the International Olympic Committee’s revenue share allocation, which is received by World Athletics every four years. This will be used to reward athletes who win a gold medal in each of the 48 athletics events in Paris with US$50,000.

This initiative by World Athletics also includes a firm commitment to extend the prize money at a tiered level, to Olympic silver and bronze medal winners at the LA 2028 Olympic Games.

When sharing details of the decision, World Athletics President Sebastian Coe commented: "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 recognizing the critical role they play in the success of any Olympic Games.

“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.

“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.

“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.”

The payment of prize money will depend upon the World Athletics ratification process, including athletes undergoing and clearing the usual anti-doping procedures. Each individual Olympic champion will receive US$50,000. Relay teams will receive the same amount, to be shared among the team. The format and structure of the LA28 Olympic bonuses will be announced nearer the time.

Related items

  • Elaine Thompson-Herah expresses confidence as Tokyo reign gears up for Paris 2024 Elaine Thompson-Herah expresses confidence as Tokyo reign gears up for Paris 2024

    As the countdown to the Paris 2024 Olympics intensifies, Jamaica's track and field sensation Elaine Thompson-Herah is feeling optimistic about her preparations as she aims to secure an unprecedented third consecutive sprint double. The Olympic champion shared her thoughts in an exclusive interview with Athletics Weekly, shedding light on her training regimen and mindset leading up to the Games.

    "Training is going good so far; the work is never easy, it’s always hard. It’s an Olympic year so you have to put in that work," said Thompson-Herah, whose 10.61 in Tokyo is the Olympic record.

    Under the guidance of Elite Performance Head Coach Renaldo Walcott, who also mentors the legendary Shelly-Ann Fraser-Pryce, Thompson-Herah acknowledged the adjustments required with a new coaching setup but expressed satisfaction with the progress.

    Reflecting on her pursuit of greatness, Thompson-Herah emphasized the importance of continuous improvement. "It’s more about tweaks and adjustments because if you want to be great, you have to make tweaks and adjustments," she explained. "Along my career to be better each time, I go to improve and to work towards my dreams and my goals."

    Thompson-Herah recognizes the formidable competition she faces, including her compatriots Fraser-Pryce and Shericka Jackson, as well as American standout Sha’Carri Richardson. Despite the challenges ahead, she remains grounded yet resolute in her aspirations.

    "I’m definitely confident, not super or over, but confident," Thompson-Herah affirmed. "I just want to stay focused and humble, have the right mindset and stay positive, no matter what obstacles or struggles come my way."

    Having battled through injury setbacks, Thompson-Herah approaches this Olympic year with a mindful approach to her physical well-being. "It’s been super-difficult to know what you’re capable of and you’re not able to do that," she admitted. "For me, it’s all about staying patient and humble."

    Acknowledging the evolution of her athletic journey, Thompson-Herah emphasized the importance of body maintenance and self-care. "It’s almost like you have a car; you have to service the car," she explained. "If I don’t service my body, I cannot produce to get those world record and times that I want."

    As Thompson-Herah continues her preparations with a keen eye on the Paris Olympics, her dedication and resilience serve as testament to her unwavering pursuit of athletic excellence and historic achievements on the track.

     

  • Mayberry Investments supports Jamaican ice hockey team's Olympic quest Mayberry Investments supports Jamaican ice hockey team's Olympic quest

    Mayberry Investments Limited (MIL), a staunch supporter of Jamaican sports, has reaffirmed its commitment to athletic excellence by partnering with the Jamaican Ice Hockey Team. This impactful collaboration includes a significant sponsorship of US$10,000 to aid the team's participation in qualifying tournaments for the Winter Olympic Games in Chicago.

    As a prominent financial institution deeply rooted in the Jamaican community, Mayberry Investments recognizes the importance of nurturing local talent and showcasing Jamaica's prowess on the global stage. Through this partnership, the company aims to not only bolster the Jamaican Ice Hockey Team's pursuit of Olympic qualification but also to spotlight the nation's capabilities in winter sports.

    "We're thrilled to embark on this journey alongside the Jamaican Ice Hockey Team as they strive for Olympic qualification," expressed Chris Berry, Executive Chairman of Mayberry Investments Limited. "Our sponsorship underscores our steadfast commitment to fostering emerging talent and elevating Jamaica's presence in international sports. Witnessing the team's remarkable performance, we're resolute in our determination to nurture and propel them towards greatness," he added, highlighting Mayberry's unwavering support for the team's trajectory.

    The Jamaican Ice Hockey Team, renowned for its extraordinary journey since 2019, has earned global acclaim with an impressive record of 12 victories out of 14 games played. Their comprehensive triumphs against teams from Brazil, Colombia, Mexico, Argentina, Puerto Rico, Venezuela, and Lebanon solidify Jamaica's status as one of the premier associate teams on the international stage, as highlighted by Don Anderson, President of the Jamaican Olympic Ice Hockey Federation.

    "We at JOIHF are immensely pleased that Mayberry Investments recognized the value of sponsoring our team for the Tri-State Challenger Series between Jamaica, Puerto Rico, and Lebanon," remarked Anderson. "This sponsorship significantly contributed to boosting the team's physical and mental well-being, enabling us to overcome challenges and emerge victorious in the tournament. We cannot overstate our gratitude for this sponsorship, which was embraced wholeheartedly by our directors and, most importantly, the players, who proudly posed in front of the Mayberry banner, particularly when receiving the player of the match awards, which we achieved on 3 out of the 4 occasions we played."

    The team is slated to compete in the Challenger series, comprising three tournaments over the next three months, featuring matches against Puerto Rico and Lebanon. The series kicks off in Chicago on April 18–21, followed by events in New York on June 5–9 and Toronto on July 11–14. Anderson continued to commend Mayberry for its invaluable support, underscoring the significance of this partnership.

    "JOIHF and the entire team extend heartfelt thanks to Mayberry Investments for their investment in the team," Anderson emphasized. "As a result of this greatly appreciated gesture, Jamaica emerged victorious in the first stage of the series, positioning themselves favorably to vie for the overall trophy in Toronto in July. This sponsorship is a win-win for all involved. Much gratitude from all of us at JOIHF," he concluded.

    Through this collaboration, Mayberry Investments Limited aims to inspire a new generation of athletes and champion the values of resilience, determination, and teamwork. This sponsorship exemplifies Mayberry Investments Limited's enduring commitment to empowering local talent and fostering the growth of sports in Jamaica.

    -ENDS-

  • Christania Williams and Coach Unfried target return to personal best ahead of Jamaica National Championships Christania Williams and Coach Unfried target return to personal best ahead of Jamaica National Championships

    Christania Williams, the talented Jamaican sprinter and 2018 Commonwealth Games silver medalist, is setting her sights on reclaiming her peak form as she gears up for the Jamaica National Championships in June, with her eyes firmly set on securing a spot at the 2024 Olympic Games in Paris this summer.

    Since her impressive performance as part of Jamaica's silver-medal-winning 4x100m relay team at the Rio 2016 Olympics, Williams, now 29, has faced setbacks due to injuries and other undisclosed health concerns. However, under the guidance of her coach, Philipp Unfried, she is focused and determined to return to her personal best time of 10.96 seconds.

    Unfried outlined their strategy for the upcoming season, emphasizing Williams' goal of nearing or even surpassing her personal best. "The plan for 2024 is to get close to where she was, close to her PB or maybe around PB," stated Unfried. "She is going to do some more races now in preparation for trials and training went really well so far."

    At the Velocity Fest 15 on Saturday meeting held at the Ashenheim Stadium in Jamaica, Williams demonstrated her potential by clocking a time of 11.76 seconds into a headwind in her qualifying heat, securing second place behind Remona Burchell, who won the heat in 11.52 seconds. Despite challenging conditions with winds affecting her heat, Williams progressed to the B final.

    In the B final, Williams improved her performance, achieving a season's best time of 11.56 seconds. Although she finished second in the final, Williams' progress is indicative of her determination and gradual return to top form.

    "Mentally, I am ready," expressed Williams. "The aim right now is to get back to my personal best. There is no pressure. Right now the focus is on me, just taking it one step at a time."

    Williams acknowledged the mental fortitude required to overcome setbacks and stay focused on her goals. "It's about going into the race and doing exactly what I do in training," she affirmed. "I know I have a lot of potential, I still believe there is more in there and I still haven’t reached my full potential."

    Despite the obstacles she has faced, Williams remains resolute in her determination to move forward. "With all that has happened in the past, I am just trying to put that behind and move forward," she explained. "I do have days when that really gets to me mentally but it’s life. If something happens, you don’t use that to keep yourself down."

    As Williams continues her journey towards peak performance, supported by the unwavering guidance of Coach Unfried, the upcoming Jamaica National Championships will serve as a crucial stepping stone towards her ultimate goal of representing Jamaica at the Olympic Games in Paris.

© 2023 SportsMaxTV All Rights Reserved.