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Date
27 Mar 2019
Tags
Olympic News, IOC News
IOC News

IOC increases revenue distribution to National Olympic Committees and International Federations after PyeongChang 2018

The International Olympic Committee (IOC) Executive Board (EB) approved today an increased revenue distribution to National Olympic Committees (NOCs) and International Federations (IFs) following the successful Olympic Winter Games PyeongChang 2018.

The success, demonstrated by the findings of an independent research study presented yesterday to the EB, was also confirmed on the business side. The IOC contributed a record amount of USD 887 million to the success of the Games, which is USD 54 million more than for the Olympic Winter Games Sochi 2014 and does not include the IOC share of the surplus announced last year.

The IOC will reinvest its share of the surplus in Korean sport through the newly formed PyeongChang 2018 Foundation, further helping to ensure the Games benefit the region for decades to come. Building on this, the EB confirmed an increase in revenue distribution to NOCs and IFs for the development of sport and athletes around the world. This revenue distribution represents a total of USD 430 million – USD 32 million (or 8 per cent) more than the amounts related to Sochi 2014.

IOC President Thomas Bach said: “The financing of these Games was based on the solidarity model, making sure that everybody can also take part in their financial success. Not only the Organising Committee, the host country or the IOC, but the entire Olympic Movement and, in particular, the participating NOCs, IFs and their athletes.” He continued: “We are on track to continue distributing 90 per cent of our revenues per Olympiad to sports worldwide.”

Future Candidature Processes

Olympic Agenda 2020 led to an increase in the use of existing and temporary venues by the two candidates, Stockholm-Åre and Milan-Cortina*, in their projects for the Olympic Winter Games 2026 – an average of 80 per cent compared to 60 per cent in the two previous Host City Selection Processes. There was also an average reduction of 75 per cent in the candidature budgets. The IOC EB was satisfied to hear that this means the message of reform is getting across more clearly now.

President Bach added: “We have momentum with many cities and NOCs thinking about candidatures for the Olympic Winter Games 2030, but also the Olympic Games 2032. On the other hand, we have to acknowledge that times continue to change, and we want to be on top of these developments. This is why we discussed further steps to make the Candidature Process even more flexible, targeted and dialogue-oriented.

“For this purpose, the IOC EB decided to set up a working group with representatives from the five continents, all from outside the IOC Executive Board, as we want to ensure consultation with the membership from the earliest possible stage.”

The working group will be chaired by Mr John Coates, AC, who is also representing Oceania. The other members are:

The group was asked to provide a report for the next Executive Board meeting on 22 May, so the EB can put it forward to the IOC Session in June.

Lausanne 2020

The IOC Executive Board welcomed Virginie Faivre as the new President of the Organising Committee for the Winter Youth Olympic Games Lausanne 2020. The EB was also encouraged to hear that 78 per cent of the schools in the region have been engaged in the Lausanne 2020 project.

Tokyo 2020

The EB was extremely happy with the preparations for the Olympic Games Tokyo 2020. It was impressed by the number of more than 200,000 volunteer applications, with a further 40,000 for the city volunteering programme, which shows the wonderful support the Organising Committee is enjoying not only from the population of Japan, but from all over the world.

Beijing 2022

The report from Beijing 2022 focused on how these Olympic Winter Games will be a revolution for winter sports. The motivation behind the Games for China is to make 300 million people familiar with winter sports, contributing to a healthier lifestyle. If only a percentage of these 300 million become participants, this will multiply the numbers worldwide. Moreover, there were 170 million winter sport tourists in the 2016/17 season in China, demonstrating how the country is already becoming a winter sports destination.

Olympic Winter Games 2026

The sports programme for the Olympic Winter Games 2026 was also discussed. The EB agreed on the proposal of the IOC’s Olympic Programme Commission to have no changes to the programme for Beijing 2022 and to put forward the same seven sports to the IOC Session in June.

The IOC Executive Board concludes its three-day meeting tomorrow.

*Cities are listed in the order of drawing of lots as performed by the IOC Executive Board.

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