Changes are coming to the Olympics in 2024, and track and field athletes stand to benefit.
Track and field is set to become the first sport to award prize money to medalists at the Paris Olympics this summer, setting aside a seven-figure prize pool that is poised to break tradition.
Track and field is one of the highlights of the Summer Olympics every four years, with the U.S. in particular producing emerging stars like Noah Lyles and Sha'Carri Richardson. Lyles and Richardson are among the standouts who could now walk away with some money in addition to a medal this summer.
Here's what you need to know about the track and field prize money at the Paris Olympics.
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Olympic track and field prize money, explained
World Athletics announced Wednesday that $2.4 million in prize money will be set aside for track and field athletes at the Paris Olympics in 2024, a first in Olympic history.
The decision intends to "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,” World Athletics president Shane Coe said in a release.
The prize money will only go to gold medalists, so it's all-or-nothing for those competing in the events. That's expected to change in 2028, however, when silver and gold medalists will become part of the program.
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.… pic.twitter.com/useLANqnHd
— Seb Coe (@sebcoe) April 10, 2024
The split is fairly simple. $2.4 million will be shared evenly by 48 different men's and women's events, with $50,000 going to the gold medalist in each competition. Relay teams will receive a split of the payment, with four members of a gold medal-winning relay team each receiving $12,500.
While track and field is the first individual sport to distribute prize money at the Olympics, U.S. athletes weren't walking away empty-handed before. The U.S. Olympic Committee already awards prizes to medalists, including $37,500 for gold medalists. Many other countries follow suit, though the prize pool differs between nations. In addition to those prizes, World Athletics is taking the bold step of redistributing some of its Olympic revenue back to the athletes.
A detailed plan for revenue distribution for the 2028 Summer Olympics will be announced closer to the competition, World Athletics said.
