Track and field will be the first sport to introduce prize money at the Olympics, with World Athletics saying it will pay $50,000 to gold medallists in Paris.
The governing body of athletics said it was setting aside $US2.4 million ($3.6 million) to pay the gold medallists across the 48 events on the track and field program for this year's Paris Olympics. Relay teams will split the $US50,000 between their members.
Payments for silver and bronze medallists are planned to start from the 2028 Olympics in Los Angeles.
World Athletics President Sebastian Coe said it was impossible to put a marketable value on winning an Olympic medal but this was a first step.
The prize money will come from the share of Olympic revenue the IOC distributes to World Athletics and other governing bodies of individual sports.
Athletes will have to pass "the usual anti-doping procedures" at the event before they receive the money, World Athletics added.
The Australian Olympic Committee has a medal incentive scheme, which sees athletes paid $20,000 for gold, $15,000 for silver and $10,000 for a bronze medal.
Source: ABC
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