European Olympic Committees criticise World Athletics’ prize money for Olympic Champions

The European Olympic Committees (EOC) president Spyros Capralos has criticized World Athletics’ decision to offer prize money to only gold medallists at the Paris 2024 Olympics, calling it discriminatory and against Olympic values, according to Reuters.

World Athletics, led by former Olympic champion and current International Olympic Committee (IOC) member Sebastian Coe, has announced it will award $50,000 in prize money to each of its 48 Olympic champions in Paris.

However, World Athletics will not provide cash prizes for silver or bronze medalists at these Games, though it plans to do so at the Los Angeles Olympics in 2028.

The International Boxing Association (IBA) has also declared its intention to offer monetary rewards to all medallists at the Paris Games, with $100,000 for gold, $50,000 for silver, and $25,000 for bronze medalists.

These decisions have sparked discontent among other international federations and the IOC, which views the move as a direct interference in their event without prior consultation. Capralos, who is also an IOC member, stated, “We believe in the Olympic Games, athletes compete for the values of the Games, not for money and bonuses.”

Capralos expressed concern that offering money exclusively to gold medalists is discriminatory and undermines the principles of solidarity that the Olympics represent.

He noted that many countries already provide bonuses for medal-winning athletes through their National Olympic Committees and governments.

Capralos revealed that there had been no discussions with WA or the IBA regarding their announcements. He hinted at potential discussions on the matter at the European athletics championships in Rome but confirmed no contact with the IBA, which was stripped of IOC recognition last year due to governance and financial issues.

The IOC has encouraged the formation of a new global boxing body, warning that athletes from federations adhering to the IBA instead of its IOC-approved successor would be barred from participating in the 2028 Los Angeles Olympics.