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In a historic announcement, World Athletics, the international athletics federation announced that they will become the first international federation to give cash rewards to medal winners at the Olympic Games.
48 gold medal winners to be rewarded
A total prize pot of US$2.4 will be used by them to reward 48 gold medal winners of athletics events at the upcoming Paris Olympics 2024. Each Gold medal winner will get $50000 in cash (nearly 42 lakh rupees).
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In Paris, only the Gold medal winners will get the reward. However, in the LA Games 2028, the federation will reward the silver and bronze medal winners as well.
The relay teams will get the same amount of $50000 as well, to be shared equally among the team members.
The athletes need to undergo and clear the anti-doping process
The prize money will be awarded to the athletes only after the World Athletics ratification process, including athletes undergoing and clearing the usual anti-doping procedures.
"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 Sebastian Coe expressed.
“We started with the Olympic dividend payments to our Member Federations, which saw us distribute an extra US$5m a year on top of existing grants aimed at athletics growth projects, and we are now in a position to also fund gold medal performances for athletes in Paris, with a commitment to reward all three medallists at the LA28 Olympic Games," he added.