In a groundbreaking move, World Athletics announced on Wednesday, April 10, a shift in Olympic compensation, setting the stage for Kenyan athletes to potentially claim up to Ksh7 million for clinching gold at the Paris Olympics slated for July this year.
The International Olympic Committee does not give out cash prizes for competitions, but that is now set to change.
Under the new policy, gold medalists in each of the 48 athletic events in Paris will be awarded US$50,000, equating to approximately Ksh6.51 million.
This decision marks a significant departure as World Athletics becomes the first international federation to institute prize money at an Olympic Games, acknowledging and financially rewarding athletes for reaching the zenith of sporting achievement.
In the last Olympics in Tokyo, Kenya won four gold medals courtesy of Eliud Kipchoge, Faith Kipyegon, Emmanuel Korir, and Peres Jepchirchir.
The substantial prize pot of US $2.4 million (approximately Ksh312.34 million) has been earmarked by World Athletics from the International Olympic Committee’s revenue share allocation, which is received every four years.
World Athletics President Sebastian Coe hailed the move as a pivotal moment for the sport, stating, "The introduction of prize money for Olympic gold medallists is a pivotal moment for World Athletics and the sport of athletics as a whole, underscoring our commitment to empowering the athletes and recognising the critical role they play in the success of any Olympic Games."
Coe further elaborated on the decision, highlighting the federation's commitment to extending prize money to Olympic silver and bronze medallists at the LA 2028 Olympic Games.
Kenya, renowned for its dominance in distance running, has already unveiled its marathon team for the upcoming Olympics, headlined by the illustrious Eliud Kipchoge, a two-time defending champion.
Joining Kipchoge are seasoned athletes including Benson Kipruto, Timothy Kiplagat, Vincent Ngetich, and Alexander Munyao.
The selection process, overseen by Athletics Kenya, was based on stringent criteria including the 2023 World Marathon rankings and performances at the prestigious World Marathon Majors.
Notable inclusions in the women's squad are reigning Boston and New York Marathon champion Hellen Obiri, and two-time Chicago Marathon winner Ruth Chepngetich, bringing a wealth of experience to the team.
Athletics Kenya will announce the rest of the Olympics later this month.
As Kenya gears up to showcase its athletic prowess on the global stage, the prospect of substantial prize money adds an extra dimension of motivation for its athletes.
