IOC distributes 90% revenues to sport, athlete dev
14 Apr 2019, 00:33
The International Olympic Committee (IOC) has distributed 90 percent of revenues from the Olympic Games for sport and athlete development, according to a report published by the organization on its website on Saturday.
Through the sale of broadcasting and marketing rights as well as other income streams, the total revenues for the Olympiad spanning from 2013 to 2016, covering the 2014 Sochi Winter Games and the 2016 Rio Games, reached 5.7 billion U.S. dollars.
As the IOC is a non-profit organization, 90 percent of the revenues go straight back into sport and athlete development.
Around 2.5 billion U.S. dollars is put towards the staging of the Olympic Games to ease the financial burden on the host cities.
From Athens 2004 to Rio 2016 Summer Games, and from Salt Lake City 2002 to PyeongChang 2018 Winter Games, the IOC has increased its contribution towards the success of the Games by 60 percent. It allocated a total of 1.53 billion dollars for Rio 2016 and 887 million dollars for PyeongChang 2018, also putting a considerable sum towards the cost of staging the Youth Olympic Games every two years.
Supporting athletes is at the heart of the Olympic Movement, as is laid out in the IOC's Olympic Agenda 2020. Protecting clean athletes is extremely important to the IOC.
Therefore, substantial investment is made in the anti-doping ecosystem, with 50 percent of the World Anti-Doping Agency's funding coming from the IOC, and the other half comes from the governments of the world.