MONEY VALIDATES

IAAF Continental Cup logo 2014     Our friends at Letsrun.com wrote a preview of this weekend’s 2nd IAAF Continental Cup from Marrakech, Morocco comparing it favorably to the recently completed IAAF Diamond League tour.

“The prize money for the event is insane as compared to the DL meet. The Continental Cup offers $2.9 million in prize money, that’s more than 6 times what a DL event offers ($480,000) and more than three times as much what two DL events would offer. Each event pays out $73,000, plus four relays, each of which pays out $68,000, for a total of $2.9 million in prize money. All finishers are guaranteed prize money, which is allotted as follows:

$30,000 for 1st,
$15,000 for 2nd
$10,000 for 3rd
$7,000 for 4th
$5,000 for 5th
$3,000 for 6th
$2,000 for 7th
$1,000 for 8th.

That’s a HUGE increase from a Diamond League meet.”

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Recall that at last month’s U.S. Open tennis championship in New York, Serena Williams was awarded a check of $3 million for winning her sixth U.S. Open title, and collected an additional $1 million for winning the Emirates Airline U.S. Open Series. Now consider the gulf between the payoffs in these two sports, and the ramifications that develop from it.

As one pundit put it, “Mary (Wittenberg’s) got Caroline Wozniacki (U.S. Open Tennis finalist) running the New York City Marathon. John McEnroe was talking about it during Sunday’s prime time coverage. Now that’s all they’re talking about, not Kipsang, not Mutai, not Edna Kiplagat or Mary Keitany.”

How often have we heard, “well, running isn’t golf or tennis”? As if that alone explains the differences. As if this weekend’s season-ending Fedex Cup prize of $10 million (to one golfer!) was always the way golf was conducted, or that tennis always had a multi-million dollar professional underpinning. Of course they didn’t. Golf and tennis became what they are today by the concerted efforts of many people, including pioneering athletes, event directors, and agents willing to challenge a stagnant status quo. Continue reading