Track and field athletes will financially profit from Paris 2024; Seb Coe thinks the IOC will accept this. “The world is no longer the same.
World Athletics said that it will be the first international sport to pay competitors for winning a gold medal at the Games, shattering 128 years of Olympic history and possibly putting it in direct conflict with the International Olympic Committee. Track and field competitors will begin competition in Paris this summer, and those who place first in each of the 48 events will receive a bonus of $50,000 (£39,360). Additionally, Olympic silver and bronze medal winners at the LA 2028 Games would receive monetary prizes, according to a pledge made by World Athletics.
The IOC has never provided money for competing in the Olympics or winning a medal, claiming that participating in the Games is sufficient compensation. This makes the decision more startling. 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, World Athletics President Seb Coe said in a statement explaining his decision. Seb Coe noted that it was appropriate for his federation to pass on $2.4 million of the money it receives from the IOC every four years to reward athletes.
Even though it is impossible to place a monetary value on an Olympic medal or the dedication and concentration required to even represent your country at a Games, I believe it is crucial that we start somewhere and ensure that a portion of the money made by our athletes at the Olympics goes directly back to the people who help make the event a worldwide spectacle. Coe stated that he had not discussed the choice with IOC President Thomas Bach. He said, “But I am hoping they would welcome it,” and mentioned that the IOC has made financial investments in sports. “The world has changed, and it is crucial that we provide athletes with financial support whenever we can.
When asked if earning a gold medal ought to be sufficient and if compensating athletes would be against the Olympic ideal, Coe responded, “I don’t think it does.” If I believed that athletes were merely vying for money, I might have a different perspective. However, the world has evolved, and this is merely an acknowledgment of the ways in which all 48 of our fields can contribute. And I want to raise that pot as our sport develops.