Here comes the money!
Steven Gardiner is about to be paid.
The new world champion will receive prize money of $60,000 from the International Association of Athletics Federations (IAAF) for winning the gold medal in the men’s 400 meters (m) at the 17th IAAF World Championships that wrapped up on Sunday in Doha, Qatar. Also, his shoe contract is expected to become much more lucrative in the coming years.
It is being reported that Gardiner’s bonus from sponsor Adidas for winning gold could be in the hundreds of thousands of dollars.
In addition, he is now a major sought-after athlete for track and field competitions around the world, and he could certainly demand appearance fees, which too could be in the thousands of dollars. Other sponsors will certainly provide cash payments and benefits as well.
Gardiner has ascended to the top level of government subvention, which is at $34,000 per annum, and is also set to receive funds from the government’s remuneration program for his gold medal run. The remuneration program was set up to reward Bahamian athletes and coaches cash payments as incentives following performances where the athletes would have made finals or won medals at major international championships. It came into play under a Hubert Ingraham Free National Movement (FNM) administration following Avard Moncur’s gold medal-winning run in the men’s 400m at the Edmonton World Championships in 2001, and coincidentally, with Gardiner winning gold in the same event 18 years later, the topic will certainly arise again.
The standard for individual races is that gold medalists would receive $60,000 each, silver medalists would get $40,000 and bronze medalists would receive $30,000 each. Each finalist would receive a cash incentive, and individual coaches of the athletes would also receive a cash payment.
Also, a gold medalist would receive a parcel of crown land.
In the case of Miller-Uibo, she is also due to be compensated. Her prize money from the IAAF is a lofty $30,000 for winning the silver behind Salwa Eid Naser, of Bahrain. She has been in a position to demand appearance fees for some time now, and her shoe deal is significant. From the Bahamas government under the remuneration program, if it is honored, Miller-Uibo would receive $40,000.
The IAAF further gave out $20,000 to each bronze medalist; each fourth place finisher received $15,000; each fifth place finisher got $10,000; sixth place finishers received $6,000 each; seventh place finishers got $5,000 each; and as an eighth place finisher for The Bahamas, Tynia Gaither got $4,000 from the IAAF.
For the relays, each gold medal-winning team received $80,000; each silver medal-winning team got $40,000; the bronze medal-winning teams received $20,000 each; the prize money was $16,000 for each fourth place team; $12,000 for fifth place; $8,000 for sixth place; $6,000 for seventh place; and $4,000 for each eighth place team.
In total, there was over US$7.5 million in prize money.
There was just one world record set, which was done by Dalilah Muhammad of the United States, breaking her own mark of 52.20 seconds and settling for the new world mark of 52.16 seconds. For her efforts, she received $100,000, which was offered by TDK and the Qatar National Bank (QNB).
The IAAF World Athletics Championships Doha 2019 was one of the more lucrative world championships in recent track and field history.
Education: College of The Bahamas, Associates in Accounting