In a landmark determination, World Athletics right now (April 10) introduced that beginning with this summer time’s Paris Olympics, it’s going to grow to be the primary worldwide federation to award prize cash on the Olympic Games, offering monetary rewards to athletes who attain the top of their sport. introduced that it might give.
The whole prize cash of US$2.4 million is ring-fenced from the International Olympic Committee income share that World Athletics receives each 4 years. This will probably be used to award his US$50,000 to athletes who win gold medals at every of the 48 athletics competitions held in Paris.
This dedication by World Athletics additionally features a agency dedication to steadily prolong prize cash to silver and bronze medal winners on the 2028 Los Angeles Olympics.
Announcing particulars of the choice, World Athletics President Sebastian Coe stated: “The introduction of prize cash for Olympic gold medalists is a pivotal second for World Athletics and athletics as a complete, empowering athletes and serving to them to grow to be the world’s main champions. “It underscores our dedication to celebrating achievement.” They play a key function within the success of the Olympic Games.
“This is a continuation of the journey we began in 2015, with the purpose that every one funding World Athletics receives from the International Olympic Committee for the Olympic Games goes immediately again into our sport. .
“We began with Olympic dividend funds to our member federations, which is able to allocate a further $5 million a 12 months on prime of current grants for athletics development initiatives. We did, and now we’re ready to additionally finance the gold medal performances of Olympic athletes.” Paris is decided to reward all three medalists of the LA28 Olympic Games.
“It’s unimaginable to place a market worth on the trouble and focus it takes to win an Olympic medal or characterize your nation on the Olympics, however you can begin someplace and ensure you get a portion of the income generated. I believe it is vital to make sure that the achievements of athletes on the Olympic Games go immediately again to the individuals who make the Olympics a worldwide spectacle. ”
Payment of prize cash depends on World Athletics’ ratification course of, which includes athletes present process and clearing regular anti-doping procedures. Individual Olympic champions will obtain US$50,000. Relay groups obtain the identical quantity, which is shared between the groups. The format and construction of the LA28 Olympic bonus will probably be introduced quickly.
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