The International Olympic Committee (IOC) announced Wednesday it will create a fund to provide grants of $10,000 to Olympic athletes after they compete, a move that could distribute up to $140 million through the 2028 Los Angeles Summer Games. This initiative signals a significant policy shift for the IOC, which has historically resisted calls to pay prize money directly to Olympians.

The new fund aims to offer direct financial support to athletes, recognizing their contributions and the challenges they face throughout their careers. The program will initially be available to the nearly 2,900 athletes who participated in the 2026 Milan Cortina Winter Games. Athletes competing in the 2028 Los Angeles Games will also be eligible to apply for grants, with an estimated $110 million allocated for that cycle, provided they meet integrity criteria, including not having a doping violation.

IOC member and former NBA star Pau Gasol, who represents athletes on the executive board, announced the project, emphasizing that it is "not prize money." He stated that the IOC has heard athletes' desire for "more direct support throughout their Olympic journey and beyond" during recent strategy reviews. The grants are not contingent on an athlete continuing their professional career.

This new financial support program is a key element of the IOC's future strategy under its president, Kirsty Coventry, a five-time Olympian and two-time swimming gold medalist for Zimbabwe. Coventry, the youngest president and most recent former athlete to lead the IOC, has been in office for one year. The announcement was made during an IOC session where future strategies were being set.

While the IOC has resisted direct prize money, other international sports federations have moved in this direction. World Athletics, led by Sebastian Coe, provided $50,000 to champions at the 2024 Paris Olympics. Coe, a former IOC presidential candidate who advocated for prize money, praised Coventry's new policy, calling the announcement "a historic moment for the movement."

Gasol highlighted that the initiative is a "win for all of us," indicating broad support within the Olympic movement for this new approach to athlete compensation. The IOC's commitment aims to provide a tangible benefit to athletes directly following their Olympic participation.

The exact application process and detailed integrity criteria for the grants are expected to be released in the coming months. The IOC has not specified how the $100 million will be sourced but indicated it is a dedicated fund for athlete grants through 2028.

This development comes amid ongoing discussions about athlete welfare and financial sustainability within elite sports. The IOC's move could influence how other sports governing bodies approach athlete compensation and support in the future, potentially setting a new standard for post-competition rewards.