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The International Olympic Comittee has never awarded Olympic athletes financially despite making loads of profit from the quadrenial games.
Canadian sprint icon Donovan Bailey has launched a scathing critique of the International Olympic Committee (IOC) for not offering financial rewards to athletes, despite the substantial profits generated from the quadrennial event.
Bailey, who set a world record of 9.84 seconds to win the 100m gold at the 1996 Atlanta Olympics, is known for his candid opinions on track and field matters. His latest remarks came during an appearance on Asafa Powell’s YouTube show The Powells , where he addressed the financial disparities faced by Olympic athletes.
Before 2024, Olympic athletes did not receive any direct prize money for their performances. However, World Athletics (WA) has recently marked a significant milestone by announcing that gold medalists in track events at Paris 2024 will be awarded prize money.
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12:20 - 03.11.2024
Former Olympic 100m champion Donovan Bailey on why he snubbed Jamaica to represent Canada
Bailey, who won two gold medals at the 1996 Olympic games and was once the world record holder in the 100 meters, has explained why he snubbed birth country Jamaica to run for Canada.
This makes WA the first international governing body to take such a step. For Paris 2024, a prize fund of $2.4 million has been designated, sourced from WA's share of the IOC’s revenue allocation. Each gold medalist in the 48 track and field events will earn $50,000, with the same amount set for relay teams to share.
Despite this move, Bailey voiced his disappointment with the IOC's reluctance to provide financial incentives for athletes.
"People are still saying disparaging things about other things. Contracts are hidden. Sometimes, the average person watching track and field—let’s say the 200m race—doesn’t understand that first place could be a certain amount, and second place could be $20 million less," Bailey noted, emphasizing the lack of transparency in athlete contracts and earnings.
Bailey highlighted the issue by citing the difference in potential earnings between Kishane Thompson, who claimed silver in the 100m final at Paris 2024, and champion Noah Lyles.
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21:01 - 02.11.2024
'Slavery mentality'- Donovan Bailey joins Asafa Powell, Justin Gatlin in slamming track & field stakeholders for poor treatment of legends
Donovan Bailey criticized track and field stakeholders for their lack of respect toward retired legends, contrasting this with the respectful treatment of past champions in other sports.
"I was having a chat on air live during the Olympics, and we discussed the differences between what Kishane Thompson was going to make versus Noah Lyles. It could be almost $20 million US, yet Lyles won by just a fingernail," Bailey explained.
He argued that Olympic winners, especially in marquee events, should receive significant financial rewards. "I don’t see why you can’t pay athletes a million dollars, both men and women. It wouldn’t make a dent in the IOC’s earnings," Bailey stated, calling for greater financial equity.
Beyond athlete compensation, Bailey pointed out structural changes needed for track and field to gain popularity. He believes the sport should be managed like the NFL or golf, suggesting that executives from those sports should take charge of track and field.
"If I am going to be part of these offshoots of track and field, that is what I would do," he said.
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11:20 - 03.11.2024
Fred Kerley reveals one major flaw about Kishane Thompson's running style he regrets not exploiting at Paris Olympics 100m final
Kerley was positioned in lane three, right next to Thompson in lane four during the Paris Olympics 100m final, and he pushed him to the very end of that race
Bailey’s pointed remarks come at a time when the sport is grappling with how to better support its athletes, both current and retired, as it seeks to bolster its global appeal and ensure fair compensation for those who elevate the sport.
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