Lord Coe reveals radical plan to award ALL Olympic medallists with prize money if he becomes IOC president - and explains why amid fears of violating the Games 'philosophy' from

Lord Coe’s Plan to Award Olympic Medalists Prize Money Sparks Debate

Introduction

Lord Sebastian Coe, a double Olympic gold medalist and current president of World Athletics, has proposed a radical plan to award prize money to all Olympic medalists if he becomes president of the International Olympic Committee (IOC). This proposal has sparked debate within the Olympic community, with some expressing concerns that it could violate the “philosophy” of the Games.

Coe’s Proposal

Coe’s proposal, outlined in a manifesto he released as part of his campaign for IOC president, would see all Olympic medalists receive a share of a prize pool funded by the IOC. The exact size of the prize pool and the distribution of funds have not yet been determined, but Coe has said that he wants to create a system that is “fair and equitable.”

Arguments in Favor of Prize Money

Supporters of Coe’s proposal argue that it would provide much-needed financial support to Olympic athletes, many of whom struggle to make ends meet. They also argue that it would help to level the playing field between athletes from wealthy countries and those from less affluent nations.

In addition, some argue that prize money would help to attract more talented athletes to the Olympics, which would ultimately benefit the Games and the Olympic movement as a whole.

Arguments Against Prize Money

Opponents of Coe’s proposal argue that it would violate the “philosophy” of the Olympics, which is based on the idea that athletes should compete for glory and honor, not for money.

They also argue that prize money would create a slippery slope, leading to demands for even more money and potentially undermining the integrity of the Games.

In addition, some argue that prize money would benefit only a small number of elite athletes and would do little to help the vast majority of Olympians who do not win medals.

IOC’s Response

The IOC has not yet taken a formal position on Coe’s proposal, but it is likely to be discussed at the IOC Session in September 2023, when Coe is expected to be elected president.

IOC President Thomas Bach has said that he is “open” to discussing the issue of prize money, but he has also expressed concerns that it could “change the nature of the Games.”

Conclusion

Lord Coe’s proposal to award prize money to all Olympic medalists is a controversial one that has sparked debate within the Olympic community. There are strong arguments both for and against the proposal, and it remains to be seen whether the IOC will adopt it.