Jamaica’s sprint king and queen Usain Bolt and Elaine Thompson could walk away with a cool $8.8 million (US$73,000) each if they win both their 100m and 4x100m relay events at the IAAF World Championships in London.

A total of US$7.3 million ($883 million) in prize money will be paid by the IAAF in London with individual gold medal winners collecting US$60,000 and silver medallists receiving half that amount of US$30,000. Third-placed winners will earn US$20,000 and US$15,000 for fourth, while an athlete finishing eighth will collect US$4,000, according to figures supplied by the IAAF.

In essence, any Jamaican making a final will be guaranteed at least $484,000.

A whopping US$100,000 ($12.1m) bonus will be added if a gold medal performance is done in world record fashion, as Bolt did in 2009 in Berlin clocking 9.58 and 19.19 for world record runs in the 100m and 200m.

In today’s market, that would be a cool US$320,000, which is a whopping $38 million. Plus there is relay bounty of US$80,000 to be shared among six persons, which works out to US$13,000 each.

But Bolt, who will be retiring after the London World Championships, might not be in world record shape, while Thompson would have to turn in an out-of-this-world run to lower the existing women’s 100m record of 10.49 set in 1988 by American Florence Griffiths Joyner. Thompson’s personal best is 10.70, a mark she is expected to lower in London.

So, realistically, the only Jamaican who could secure that $12 million bonus and the $7 million winner’s cheque in London is Omar McLeod in the men’s 110m hurdles. Having run the national record of 12.90 in June, McLeod was a bit disappointed because he revealed his coach wanted him to run 12.80 seconds based on his performances in training. In fact, 12.80 is the world record held by American Aries Merritt since 2012.

McLeod recorded this season’s first sub-13-second time in the 110m hurdles en route to his third-consecutive domestic title and that catapulted him to joint fifth on the world all-time list. He has the three fastest times in the world this season of 12.90, 12.96 and 13.01, and is a heavy favourite to strike gold. The world record is certainly not beyond him.

But with all these prize monies to be won, a lot of Jamaican athletes will not only be looking to make their mark, but secure a nice payday for their efforts.

These prize monies are made available through two of the IAAF’s partners, TDK (for the men’s events) and Toyota (for the women’s events).

Of note, the performance must be an improvement on the existing world record. Therefore, if the athlete equals the record, they will not be eligible for the world record bonus of US$100,000.

The last world record award to be presented with a bonus was Ashton Eaton’s 9,045-point tally in the decathlon at the World Championships in Beijing two years ago.

TDK’s involvement with the IAAF World Championships goes beyond the world record award, as the Japanese electronics company has been the main bib sponsor (men’s events) for all 15 previous editions and will maintain that involvement in London.

World Championships Prize MoniesIndividual eventsRelays (per team)

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$6,000

seventh place: US$5,000

eighth place: US$ 4000

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$6,000

eighth place: US$ 4,000