Coe’s $50,000 prize money move for athletes will damage the Olympics

‘This move further damages the image that audiences and particularly youngsters watching their sporting idols see – that the drivers and rewards of brilliance are purely material: bonuses, prizes, money and medals.’ Photograph: Teresa Suárez/EPA

We were told last week how World Athletics is leading the way in modernising the Olympics, showing all the other sports how behind the times they are and how much the international athletics federation is on the side of its athletes. Sebastian Coe, chair of World Athletics, announced that $50,000 (£40,000) prize money will be given to Olympic gold medallists in track and field events in Paris, proudly returning the sport’s commercial gains back to the athletes and boldly facing up to the facts of modern sport.

I’m all for moving sport forward, increasing its positive social impact, empowering and valuing our athletes more, so I’m keen to consider the benefits. To do that we should take a step back to consider what the Olympics is about. Brilliant athletic performance, incredible spectator experiences, a demonstration of global human capability driven by a sporting philosophy based on wholesome values (albeit somewhat tarnished over time).