2028 European Athletics Championships in Silesia, Poland, will have the most substantial ever prize fund, which will be £3m for all 50 events.
Athletes finishing in the first eight positions in all the disciplines will be awarded prize money.
Medals’ winners – gold medallists – will receive 30,000 euros (£25,720), while silver and bronze medallists will be awarded 15,000 and 10,000 euros (£12,860, £8,573) correspondingly.
Those athletes, who take the fourth to eighth positions among 50 disciplines, will be awarded 5,000, 4,000, 3,000, 2,000 and 1,000 euros (£4,270, £3,416, £2,572, £1,715, £857) respectively.
European Athletics has altered the rules of awarding the prize money by providing financial compensation for athletes finishing in the top eight in each discipline, per BBC Sport.
Prize money in the last championships, that took place in Birmingham this summer, was not distributed evenly depending on the medal positions of athletes.
Rather, a total pool of 500,000 euros (£428,000) was equally distributed among the best 10 performances in each of the 10 events, with five events for men and five events for women, as per the World Athletics scoring tables.
Great Britain and Northern Ireland collected 19 medals in Birmingham, nine of which were gold.
But not a single performance which won a gold medal won any of the 50,000 euro ‘Gold Crown’ bonuses.
The large sum of money being paid at the European Championships highlights the increasing earning potential of elite athletes on track.
Recently, World Athletics offered “the richest prize pot in the history of the sport,” with a $10m (£7.4m) prize pool for its new Ultimate Championship in Budapest spread over three days.
Each individual event winner got $150,000 (£110,000).
