For the first time in more than a decade, athletes who place in International Skating Union championship events will see their prize money double.

The ISU Council confirmed that the annual purse in skating will be $11.1 million for the 2026-27 campaign and more than $12 million for the following season, up from $5.4 million each season since the 2015-16 campaign.

"Skating has such an expensive price tag so it's wonderful for athletes to be recognized financially for the hard work and effort that they put into a sport that they treat like a profession," U.S. Figure Skating Chief High Performance Officer Justin Dillon said.

Seventy percent of the new funds will be settled at competitions. The remaining distribution will be determined by world rankings, rewarding a sizeable cross-section of skaters for their participation and performance over three-year periods.

"Congratulations are due to our athletes who will benefit directly from the ISU's decision to double prize money at major competitions," U.S. Figure Skating President Kevin Rosenstein said. "We fully support this initiative which focuses on the well-being and stability of our athletes.  This type of support will help improve skating and the retention of our top talent globally."

With Grand Prix de France — ISU Grand Prix of Figure Skating's kickoff event — getting underway this week, skaters will vie for a total event purse of $240,000. The top five singles skaters in women and men's events will compete for a share of $52,000 per discipline, while the five pairs and ice dance teams who place will each earn a cut from a $68,000 purse per discipline.

 This payoff schedule is the same for each of the six Grand Prix Series events.

Historically, individual events featured a total purse of $180,000 per event.

At the Grand Prix Final in China in December, the six athletes who place in the women and men's events will contest for a purse of $95,000 per discipline, while the six pairs and dance teams will vie for $124,000 per discipline.

Those who qualify to compete at the ISU World Championships, World Junior Championships, Synchronized Skating World Championships and Synchronized Junior World Championships will also see their prize money increase two-fold.

Also, athletes who perform in exhibitions at ISU championship events will earn extra compensation.

"We are proud to recognize the incredible work of our skaters in a better way, by doubling the prize money," ISU President Jae Youl Kim said. "This structure ensures that a healthy cross-section of skaters is rewarded, not only those who reach the podium. We are committed to the continued growth of our sport so that we can increase prize money again in the near future."

In addition to the increase in athlete compensation, member federations will also benefit more this season.

The ISU Council allocated $2 million to increase travel contributions for member federations based on attendance at ISU events over the past three years.

The increase was necessitated by rising travel costs and in keeping with ISU Vision 2030 — maximizing competitive opportunities for all involved in skating, sports medicine and athlete health.