Lord Coe reveals radical plan to award ALL Olympic medallists with prize money if he becomes IOC president – and explains why amid fears of violating the Games ‘philosophy’

Lord Coe plans to offer prize money to all medallists if he becomes president of the International Olympic Committee.

The current World Athletics boss caused controversy earlier this year when he broke with Olympic tradition by announcing a $50,000 (£39,300) reward for every gold medal winner in his sport in Paris.

World Athletics have already pledged to extend their prize money offer to silver and bronze medallists at the next Games in Los Angeles in 2028.

But Coe believes athletes in all sports should be financially rewarded – and he would look to implement a radical rule change if he wins the race to succeed Thomas Bach in March.

Asked if he could introduce prize money to all medallists, the 68-year-old said: ‘Yes, but in conjunction with the sport and the national Olympic committees and the members.

‘I’ve always talked about the wellbeing of the athletes and giving them financial skin in the game.

‘I think that can be done in a way that is respectful of the Olympic philosophy. I have to accept that we’re in a different landscape now.’

Coe is one of seven candidates bidding to replace Bach as IOC president, with Spain’s Juan Antonio Samaranch Jr considered the frontrunner.

Coe is uniquely qualified for the job having been a double Olympic champion athlete, led the organisation of London 2012, chaired the British Olympic Association and now running the top Olympic sport.

‘I have been in training for this for most of my life,’ he added. ‘I think I can make a difference, and I do have a plan and a vision for what that difference looks like. I think change is necessary.

‘I don’t know if it’s my toughest race, but it’s the one I’m probably best prepared for.

‘I’m not under confident. I’m not overconfident. There will be twists and turns and it could go down the wire. I’m not unused to that.’