Millions Beatrice Chebet Will Bag After Winning 2 Olympic Gold Medals In A Week

Millions Beatrice Chebet Will Bag After Winning 2 Olympic Gold Medals In A Week
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She became the first Kenyan woman to win a gold medal in the distance and the first athlete to win two individual gold medals in the Paris Olympics.

At the age of just 24, Kenyan long-distance runner, Beatrice Chebet became a two-time Olympic champion in the space of four days, following her victories in the women’s 5000m and 10,000m races.

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On Friday, August 9, she battled hard in the final 100 metres in front of over 70,000 fans at the Stade de France in Paris to clinch victory in the 10,000m race at a time of 30:43.25, completing her sweep of an Olympic double. 

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Additionally, she became the first Kenyan woman to win a gold medal in the distance and the first athlete to win two individual gold medals in the Paris Olympics.

“To do the 5,000m and 10,000m is not something easy,” Chebet told reporters after the win, who added that her strategy was “just focus, and know that you can achieve. Just believe in yourself.

Kenya’s Beatrice Chebet in action at the women’s 10,000m on August 9, 2024. /TEAM KENYA

“I believed that I could do it. I just wanted to win the 10,000m for my country. My country has never won a gold medal (in the women’s 10,000m). So I said I wanted to be the first woman to win a gold medal in the 10,000m.”

The two episodes of heroics on Monday, August 5 and Friday will see her bag a plum paycheck. On April 10 this year, World Athletics announced that athletes including those from Kenya who win gold at the 2024 Olympic Games in Paris, France will claim close to Ksh7 million in cash.

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In a statement, World Athletics announced it will become the first international federation to award prize money at an Olympic Games, financially rewarding athletes for achieving the pinnacle of sporting success.

Beforehand, the International Olympic Committee did not give out cash prizes for competitions, but the new policy will see a substantial prize pot of US$2.4 million (approximately Ksh312.34 million) earmarked by World Athletics from the International Olympic Committee’s revenue share allocation, which is received every four years.

This will be used to reward athletes who win a gold medal in each of the 48 athletics events in Paris with the beneficiaries taking home US$50,000, approximated to Ksh6.45 million in current exchange rates, bringing to an end a tradition that lasted 128 years.

Relay teams will also share the same amount among their athletes. Traditionally, Olympic medal winners did not receive prize money as the event originated as an amateur competition.

While the prize money is only for gold medalists, World Athletics expressed that it is committed to extending the bonus initiative to Olympic silver and bronze medalists at the Los Angeles 2028 Olympic Games in the United States (US).

Now, taking into consideration Chebet’s gold medals already, which are Kenya’s only ones so far out of a total of six heading into the penultimate weekend of the Olympics, she will take home approximately Ksh12.9 million from the reward system alone.

The payment of prize money will depend upon the World Athletics ratification process, including athletes undergoing and clearing the usual anti-doping procedures.

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That’s not all. President William Ruto had on July 12, 2024, directed former Youth Affairs, Creative Economy and Sports Cabinet Secretary, Ababu Namwamba to fast-track the new rates that will also see Olympic medalists rewarded higher.

Under the new arrangement by the government, gold medalists are rewarded with Ksh3 million, up from Ksh1 million, silver medallists Ksh2 million (up from Ksh1 million) and bronze medalists Ksh750,000 (up from Ksh500,000).

Given that Chebet bagged two gold medals, she is set to bag Ksh6 million from the Kenyan government, which will push her total earnings to Ksh18.9 million. With the double Olympics gold, Chebet will also harvest more as her appearance fees will go higher in each of her next events.

2024 is turning out to be a good year for Chebet who currently wields the women’s 10,000m world record. On May 25, she ran an impressive 28:54.14 to make history at the Prefontaine Classic in Eugene, Oregon, United States (US), becoming the first woman to run below the 29-minute barrier.

Beatrice Chebet poses for pictures after winning the women’s 10,000m in a world record time of 28:54.14 during the 49th Pre Classic at Hayward Field, US on May 25, 2024. /REUTERS

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