POSTED: December 2nd 2011

USOC and IOC still not on the same page on revenue share

The IOC in Lausanne will be the venue for the last executive board meeting of the year / SFC images
The IOC in Lausanne will be the venue for the last executive board meeting of the year / SFC images

Sports Features Communications

TAMPA: The International Olympic Committee (IOC) and the United States Olympic Committee (USOC) still haven’t come to an agreement on the revenue sharing issues after almost a year of talks.

The point up for question is a financial deal struck in the ‘80’s that allows for the USOC to receive a 20 percent share of global sponsorship revenue and a 12.75 percent cut of Olympic broadcast rights deals for the USA. 

Many National Olympic Committees (NOC) and International Sports Federations (IF) have raised a question over the USA getting the lion’s share of Olympic proceeds. It is also widely believed that this element played a big part in the disappointing outcome of the Chicago 2016 bid earning only 18 votes and falling out in the first round.

The USOC has vowed not to rebid for the Olympics until the issue is put to rest.

Last year both organizations agreed on negotiating a new agreement that would take effect in 2020 and the USOC also agreed to donate $18 million towards the administrative costs of staging of the 2010 and 2012 Olympic Games.

IOC marketing commission chairman Gerhard Heiberg spoke to the Association Press and admitted that the agreement was “taking longer than we thought” to reach common ground.

Heiberg also confirmed that the communication level was very good between the two organizations but there were some final points in the negotiations yet to be ironed out but that they were very close to an agreement.

The IOC has its last executive board meeting next week in Lausanne and hopes from both sides were optimistic that they would be able to announce a new accord.

Keywords · IOC · USOC · revenue share

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