The landmark decision to introduce financial rewards for athletes was made unanimously by the European Athletics Council meeting in Vilnius, Lithuania.

The format and the structure of the bonuses that will appear at the European Athletics Championships for the first time since they began in 1934 will be "unveiled at a later date", according to the governing body.

"I am very pleased that we have been able to announce that for the first time there will be performance bonuses awarded at the European Athletics Championships. This is a historic decision," said European Athletics President Dobromir Karamarinov.

"Offering special bonuses for excellent achievements by our athletes in this important format will further incentivise Europe’s top athletes competing in Rome next summer but also it adds an additional point of interest for the fans and media which, in turn, definitely adds value to the championships.

"We will of course continue our very stable and sustainable investment in events, competitions and Member Federations and athletics development.

"However, this historic Council decision will further strengthen our position of always having the athletes themselves at the forefront of our thinking.

"European Athletics is now able to further enhance the attractiveness of the premier event in our competition portfolio without diminishing our other important commitments."

European Athletics Athletes Committee chair Lea Sprunger, Switzerland’s 2018 European women’s 400 metres hurdles champion, added: "I, and the rest of the Athletes Committee, welcome this decision for the European Athletics Championships.

"All of us on the Committee have been pushing for more financial opportunities for athletes and see this as a first good step in the right direction.”

Karamarinov hinted at the possibility of a new policy in May this year while speaking to insidethegames after his re-election as President.

Asked for his view on financial incentives for athletes, Karamarinov said: "It will not be my view but the view of the newly-elected Council. From time to time this proposal for prize money at championships comes up, but at the moment our philosophy is that this is not necessary.

"But I am not saying no.

"I always have said we will take all the ideas into account and we will see.

"We have to see this proposal from many angles because it also has a financial impact on the governing body.

"It’s easy to say we will give prize money but we have to have the money coming to European Athletics.

"We could put this on the shoulders of the local organising committees, but that would be not so nice because they have a lot of responsibilities.

"But everything is possible. We will discuss. I cannot say no. When ideas come we have to know how to realise them."

Prize money has been paid at the World Athletics Championships since the 1997 edition in Athens, which offered individual gold medallists $60,000 (£49,000/€57,000) and $100,000 (£82,300/€95,000) for world records.

The amount for world records remains at $100,000, while the gold medal amount, as of this year’s World Athletics Championships in Budapest, is $70,000 (£57,500/€66,500).

Also approved by the Council was a Roma 2024 European Athletics Championships 'Ambassadors Programme' which will see international and Italian athletics stars at the forefront of the promotional and marketing campaign for the championships.

It was confirmed  that the 2025 European Athletics Convention and Congress will be held in Batumi, Georgia, from October 21 to 25, with the Congress taking place on October 23.