The Olympics’ governing body has created a $140mn fund to pay grants to every participant of its Summer and Winter Games for the first time in its 132-year history.
The International Olympic Committee said on Wednesday that all competitors would be eligible for the $10,000 grant if they had not breached antidoping rules or violated the IOC ethical codes, its conditions of participation or the Olympic Charter.
The decision marks another major departure for the IOC, which was founded in 1894 with a mission to promote an amateur ethos in sport and only allowed professional athletes to compete in the 1988 Games. The move is a crucial pillar of its “Fit for the Future” plans under the leadership of Kirsty Coventry, who was elected last year to succeed Thomas Bach as president of the IOC.