The International Olympic Committee (IOC) will distribute $6.8 billion for the 2021-2024 Olympiad, its spokesperson Mark Adams announced on Tuesday. Compared to the previous cycle, the increase amounts to 12%.
“Despite the difficult economic situation”marked by the Covid-19 pandemic which led to a one-year postponement of the Tokyo 2020 Olympics, ultimately held behind closed doors, the organization will even increase its subsidies by 45% compared to the 2009-2012 period, according to Mr. Adams. The IOC’s revenues, mainly drawn from TV rights and its TOP program of international sponsors, are redistributed 90%, with 10% used to run the Lausanne organization, according to its annual reports.
The Olympic body finances the international federations present at the Summer and Winter Olympics, as well as the 206 national Olympic committees, contributes 50% to the budget of the World Anti-Doping Agency, and participates in the organization of the Olympics and the Youth Olympic Games.
Secure business income
At the 2032 horizon, the IOC a “already secured commercial revenue of $13.5 billion” (12.83 billion euros), according to Mark Adams, or 7.3 billion until the 2028 Olympic Games in Los Angeles, and already 6.2 billion for the following Olympics, which will end with the 2032 Olympic Games in Brisbane in Australia.
“This clearly demonstrates that the Olympic brand is stronger than ever and that interest in the commercial association with the IOC is only growing.”said the spokesperson, summarizing the report made a little earlier to the executive commission by the head of the finance committee.
ats/bao
Swiss
