KINGSTON, Jamaica —  As the 14th edition of the International Association of Athletics Federations (IAAF) World Championships start in Moscow on Saturday athletes will not only be vying for pride but also for a portion of the over US$ 7 million in prize money.

A total of US$ 7,194,000 in prize money will be paid by the IAAF in Moscow 2013.

In addition, athletes achieving a World Record will be eligible for a special World Record Award of US$ 100,000 offered by sponsors Toyota and TDK.

According to the IAAF, the performance must be an improvement on the existing IAAF World Record. Performances which equal the existing World Record will not be eligible for a World Record Award. 

World Championship prizes:

Individual Events

Gold: US$ 60,000

Silver: US$ 30,000

Bronze: US$ 20,000

Fourth place: US$ 15,000

Fifth place: US$ 10,000

Sixth place: US$ 6000

Seventh place: US$ 5000

Eighth place: US$ 4000

Relays (per team)

Gold: US$ 80,000

Silver: US$ 40,000

Bronze: US$ 20,000

Fourth place: US$ 16,000

Fifth place: US$ 12,000

Sixth place: US$ 8000

Seventh place: US$ 6000

Eighth place: US$ 4000