USATF and the Athlete Advisory Committee (AAC) agreed on a new revenue distribution plan that will ensure $9 million to athletes over the next five years, USATF announced today in a press release.

USATF leaders, High Performance Division officers and AAC members came together in Indianapolis, Ind., this weekend to develop a new model that, beginning in 2016, will distribute $1.8 million per year in additional cash funds to athletes. 75% will go toward providing roughly $10,000 annually for each athlete who makes a World Championship or Olympic team.

Additionally, the remaining 25 percent will serve as medal bonuses for individuals earning gold ($25,000), silver ($15,000) and bronze ($10,000) at World Outdoor Championships or Olympic Games. Athletes in relays (who run at least one round) will share equally the amount of the bonus.

AAC Chair Member and Olympic Gold Medalist Dwight Phillips was on hand in Indianapolis and was thrilled with the progress.

“Our meetings in Indianapolis were groundbreaking,” Phillips said in the USATF release. “For USATF to work with us on how to earmark $9 million in cash to athletes is historic, but we were just as excited by the unprecedented collaboration between athletes, the staff, and our High Performance Division. We left Indianapolis really excited about the future.”

Additonally, USATF CEO Max Seigel noted, “Everyone came to the table recognizing the issues at hand and extremely open-minded about finding solutions. We have been working with athletes for more than two years to try to come up with a funding model, and Dwight, his leadership team and our staff have worked especially closely in recent weeks. To be able to finalize the basic structure in a unanimous fashion speaks to the shared commitment of everyone involved.”

Full details of the release can be found here, USATF Press Release.

Athletes rejoiced at the news on social media, including Nick Symmonds. Symmonds made national headlines this summer when he was left off of Team USA for the IAAF World Championships after refusing to sign USATF's statement of conditions. 

This is a HUGE step in the right direction. Thank you @usatf for compensating #TeamUSA for their hard work! https://t.co/RTdvdzUH2A

— Nick Symmonds (@NickSymmonds) September 28, 2015

USA Track & Field has a new profit sharing model with athletes, #'s suggest top athletes can actually make a living pic.twitter.com/bHGV56Yo9E

— Darren Rovell (@darrenrovell) September 28, 2015

Exciting news for a Monday morning and a big step for T&F as a professional sport in America 🇺🇸 https://t.co/crlFVcqwF4

— Casimir Loxsom (@cazzylox) September 28, 2015