The International Olympic Committee (IOC) has made a groundbreaking decision by establishing a fund to pay athletes competing in the Olympic Games, breaking a 130-year tradition. Announced on Wednesday, the IOC has set up a $140 million (£106 million) fund that will provide a “fit for the future” grant of $10,000 to every athlete participating in the Summer or Winter Games, starting with the 3,000 athletes at Milano-Cortina.

This initiative will extend to 11,000 athletes at the Los Angeles Games in 2028 and for all future Olympics. The IOC’s move comes in response to increasing pressure from athletes, who have urged the organization—holding nearly $5 billion in reserves—to directly compensate those who showcase their talents on the world stage.

Pau Gasol, head of the IOC’s Athletes’ Commission, emphasized the inclusivity of the grant, stating, “This grant will be available to every Olympian, not just medal winners.” He highlighted the sacrifices and dedication required to reach the Olympic level, acknowledging that each athlete’s journey is unique.

Athletes must apply for the grant about six months post-Games, provided they adhere to the Olympic charter and have no doping violations. However, the IOC dismissed requests for prize money, stating, “This is not prize money. This is about recognizing the journey and commitment to become an Olympian.”

Sebastian Coe, head of World Athletics, welcomed the initiative, calling it a historic moment for the Olympic movement. He noted that while details regarding delivery and criteria need further discussion, the announcement marks a proud day for the athletes' community.