Faith Kipyegon poses after winning the 1500m Gold medal at the delayed 2020 Tokyo Olympics. In a landmark decision, World Athletics has announced it will become the first international federation to award prize money at an Olympic Games.

World Athletics said they will financially reward athletes for achieving the pinnacle of sporting success, starting at this summer’s 2024 Olympic Games to be held in Paris. A total prize pot of US$2.4 million (Ksh 312,676,100) 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 the winners set to pocket US$50,000 (Ksh. 6,514,085).

Silver and bronze medalists will be paid starting from the 2028 Olympics. 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. 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.”