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World Athletics boss Sebastian Coe plans to make changes to the Olympics policy by introducing prize money to medallists across all sports if he gets elected IOC president next year.
World Athletics president Sebastian Coe plans to change the Olympics policy of not rewarding medallists if he gets elected as the president of the International Olympics Committee (IOC).
Coe is among those seeking to replace Thomas Bach as the IOC president when the German completes his term in March 2025 and the Briton is looking at making some radical changes.
Having broken ranks this year, when athletics became the first association to reward Olympics medallists with prize money, Coe now wants it extended to every sport if he gets into the big office.
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World Athletics rewarded gold medallists only at the Paris Olympics when champions in track and field were offered $50,000 each with plans to reward all three medalists starting at the 2028 Los Angeles Olympics, before boxing also did the same for the 2024 Games.
Now, Coe feels it is time to end the long tradition of Olympics medallists going home with medals but nothing in their bank account after sweating it out at the grandest stage in sport.
“Yes, but in conjunction with the sport and the national Olympic committees and the members,” Coe said when asked if he will consider introducing prize money to Olympics medallists across all sports, as quoted by the Dailymail.
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“I've always talked about the wellbeing of the athletes and giving them financial skin in the game. I think that can be done in a way that is respectful of the Olympic philosophy. I have to accept that we're in a different landscape now.”
Coe is among seven candidates seeking to replace Bach, with Spain’s Juan Antonio Samaranch Jr considered favourite, and he is confident of getting over the line thanks to his experience as a two-time Olympics champion, having led the 2012 London Olympics Organising Committee, and chaired the British Olympic Association as well as his current role as World Athletics president.
“I have been in training for this for most of my life. I think I can make a difference, and I do have a plan and a vision for what that difference looks like. I think change is necessary,” he added.
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“I don't know if it's my toughest race, but it's the one I'm probably best prepared for. I'm not under confident. I'm not overconfident. There will be twists and turns and it could go down the wire. I'm not unused to that,” said the 68-year-old.
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