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IOC increases revenue distribution to NOCs, IFs after PyeongChang 2018

Date : 28 Mar 2019

Lausanne, Switzerland, March 27, 2019: The IOC Executive Board on Wednesday approved an increased revenue distribution to National Olympic Committees and International Federations following the successful Winter Olympics in PyeongChang, Korea, in 2018.

The success, demonstrated by the findings of an independent research study presented 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 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.

*The IOC EB has formed a working group to discuss future candidature processes. It will be chaired by John Coates (Oceania) and will have a member from the other four continents: Danka Bartekova (Europe), Li Lingwei (Asia), Lydia Nsekera (Africa) and Dr Gerardo Werthein (Americas).

*Tokyo 2020: The EB was extremely happy with the preparations for 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.

*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. 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 EB agreed on the proposal of the IOC’s Olympic Programme Commission to have no changes for Beijing 2022 and to put forward the same seven sports to the IOC Session in June.

Source: www.olympic.org

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