Olympic first: Track and field gold medalists to receive $50k

[KARAH RUCKER]

TRACK AND FIELD IS ABOUT TO BE THE FIRST OLYMPIC SPORT TO PAY GOLD MEDALISTS.

WORLD ATHLETICS ANNOUNCED IT WILL AWARD GOLD MEDALISTS AT THE PARIS GAMES $50,000 EACH.

IT MAKES THE ORGANIZATION THE FIRST INTERNATIONAL FEDERATION TO OFFER PRIZE MONEY DIRECTLY TO OLYMPIC MEDALISTS AS THE GAMES CONTINUE TO SHIFT AWAY FROM AMATEURISM.

THE TRACK AND FIELD POT WILL BE $2.4 MILLION THIS YEAR FOR 48 MEN’S AND WOMEN’S EVENTS. 

THE FEDERATION SAYS THIS IS THE FIRST STEP IN IT’S PLAN TO EVENTUALLY PAY ALL MEDALISTS BY 2028. 

THE FUNDS COME FROM PAYMENTS TO WORLD ATHLETICS FROM THE INTERNATIONAL OLYMPIC COMMITTEE.

THE IOC RAKES IN BILLIONS FROM SPONSORSHIPS AND BROADCASTING DEALS. 

BUT THE IOC SAYS THEY WERE ONLY NOTIFIED OF WORLD ATHLETICS DECISION THE DAY OF THE ANNOUNCEMENT. 

REACTING TO THE CHANGE, THE IOC SAID IT WAS UP TO EACH SPORTS’ GOVERNING BODY ON HOW TO SPEND ITS SHARE OF THE OLYMPIC REVENUE.

SOME COUNTRIES ALREADY GIVE ATHLETES BONUSES FOR MEDALING.

THE U.S. OLYMPIC AND PARALYMPIC COMMITTEE AWARD ATHLETES NEARLY $40,000 FOR GOLD MEDALS. NEARLY $23,000 FOR SILVER AND $15,000 FOR BRONZE. 

SINGAPORE REPORTEDLY GIVES GOLD MEDALISTS $1 MILLION.

STILL, ATHLETES PAY THOUSANDS OF DOLLARS EACH YEAR FOR COACHING AND TRAVEL EVENTS AND SACRIFICE TRADITIONAL CAREERS IN THE PROCESS.

WORLD ATHLETICS SAID IT’S LATEST MOVE IS A “COMMITMENT TO EMPOWERING THE ATHLETES AND RECOGNIZING THE CRITICAL ROLE THEY PLAY IN THE SUCCESS OF ANY OLYMPIC GAMES.”