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Paris Olympics: Money for Medals!

By Prof Dr Ian Blackshaw

The 2024 Paris Olympics got off on Friday evening to a soggy but spectacular start at a four-hour Opening Ceremony on the river Seine and with the backdrop of the iconic Eiffel Tower, sporting the famous Olympic Rings.

The Games break new ground with new Olympic sports, such as breakdancing, skateboarding and surfing, as well as payments for medals.

For example, World Athletics, for the first time, will hand out prize money for gold medallists of US$50,000. Also, the International Boxing Association (IBA) will reward gold medallists with the same amount. Silver and bronze medallists will receive US25,000 and US$12,500 respectively. In total, the IBA will shell out some US$3.1 million to medallists in their competitions.

The USA will pay out US$37,500 to its gold medallists and US$22,500 and US$15,000 for each silver and bronze medallist respectively. Whilst Serbia reportedly will pay its gold medallists US$214,900. Perhaps Novak Djokovic will win an elusive Olympic gold in the Paris men’s tennis singles?! Of course, if he does, he hardly needs the money, having recently won £1.4 million as the men’s singles runner up at the Wimbledon Championships!

At the 2020 Tokyo Olympics, Singapore offered US$1 million for any gold medals, but they did not win any! The same amount is on offer for the 2024 Paris Olympics!

The International Olympic Committee does not award prize money for medallists. This is in line with the origins of the Olympics as an amateur sporting competition.

So, is prize money in the Paris Olympics compatible with the Olympic ideal expressed by Pierre de Coubertin, the father of the modern Olympics, that it is not the winning but the taking part that counts?

I think not!

Prof Dr Ian Blackshaw may be contacted by e-mail at ‘This email address is being protected from spambots. You need JavaScript enabled to view it.



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