The International Skating Union approved the doubling of prize money for athletes last month at its 60th Ordinary Congress in Tenerife, Spain.
International Skating Union President Jae Youl Kim presented the prize money increase proposal to the members of the congress.
The measure will start to take shape during the upcoming season. The 2025-26 prize money pool was $5.4 million and the 2026-27 prize pool will be $11.1 million.
Park City speed skater Casey Dawson, who won the team pursuit silver medal at the Milano Cortina Games, said he was pleased about the increases but believes they should have come sooner. He said they hadn’t been increased, even to account for inflation, for “a long time.”
“It’s a much-needed update,” Dawson said. “More people are recognizing accomplishments by athletes. … I’m just glad to see that they’re making this shift towards trying to keep up with other sports like track and field, even though they get paid a lot more than us.”
Dawson said that competing in the highest level of sports doesn’t leave athletes much time to hold down outside jobs, even if their sports don’t pay highly. He’s glad that organizations like the International Skating Union seem to be recognizing that sacrifice and commitment, and are starting to pay athletes enough to continue in their sports.
“I think it’s going to be a great change for these athletes,” Dawson said. “If you win some World Cups, it’s going to be a big jump as far as living and being able to pay bills and everything for athletes. … It’s going to be a great motivating factor for them to be able to spend a lot more time on their training and worry a little bit less about their finances.”
“Our athletes are at the heart of everything we do,” Kim said. “This proposal to more than double prize money reflects our commitment to recognizing their achievements and to investing directly in the future of skating. It is also a result of the collective work of our members, athletes, officials and partners to strengthen our sport and create new opportunities for growth.”
Along with the prize money increase, the union nearly doubled their travel stipends to member organizations from $2.4 million in 2025-26 to $4.5 million in 2026-27. The union says a recent growth in their investment portfolio from $270 million in the fall of 2024 to $345 million in April helped make these increases possible.
“The work we began under Vision 2030 is far from finished,” Kim said. “Our ambition is to build an athlete-first, member-friendly and fan-centric (International Skating Union) that inspires more skaters and fans around the world. We want to expand our presence across broadcast and digital platforms, create stronger partnerships, and generate even greater opportunities for athletes and members. Today’s decision represents an important milestone in that journey, but it is only the beginning.”
For additional information on the International Skating Union, see their website. They govern figure skating, synchronized skating and speed skating.