IOC and USOC come to payment agreement 10/09/2010 |
|
| |
| |
The long-standing financial row between the International Olympic Committee (IOC) and the United States Olympic Committee (USOC) is a step closer to being resolved after the two sides reached a payment agreement.
The IOC and the USOC have been at odds for years over the large amount of money from broadcasting and sponsoring deals going to the USOC based on old contracts.
"The IOC and the USOC have reached agreement on a significant financial contribution from the USOC to resolve the Games' costs issue," the IOC said in a statement.
"During a very productive and amicable meeting at the Youth Olympic Games in Singapore last month, the two sides also agreed to establish a process to accelerate talks on the outstanding issue of revenue sharing.
"The agreement followed fruitful discussions in Denver, Colorado, last year and at the Vancouver 2010 Olympic Winter Games this February. The IOC and USOC delegations have pledged to continue working in a constructive manner and in a spirit of good faith and co-operation.”
Some IOC members had called the amounts "immoral" while USOC had refused to budge.
Based on deals signed years ago, the USOC was getting more from the North American broadcasting rights deal and the IOC TOP sponsors programme than all the other 200-plus Olympic committees put together.
The row was seen as a major factor in Chicago's first-round elimination in the vote for the 2016 Olympic Games.
USOC chairman Larry Probst said: "I am pleased that our relationship has progressed to the point where we can begin to make significant headway on a number of issues that have been a point of contention between the USOC and the IOC.
"This agreement demonstrates that when people work together constructively to develop innovative solutions to challenging problems, the future of the Olympic Movement will benefit.”
|
| Back |
| |
| |
|
|
 |
Advertisement
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
