Sebastian Coe emphasizes prize money's importance for athlete welfare in track and field

This decision, which offers $50,000 to each winner, was met with criticism from the International Olympic Committee and other federations, who argued it went against the Olympic spirit. Coe, a two-time Olympic 1500m gold medalist, stated that financial welfare is critical for athletes, underpinning their physical and mental well-being and allowing them to focus on training without undue stress. He also highlighted the upcoming World Athletics Ultimate Championships, a new biannual event in Budapest with a $10 million prize pot, where every athlete competing will receive a financial reward.

Coe believes prize money is not a philosophical divide but a practical support for athletes and the sport's ecosystem, a view he has held for 50 years.