The International Olympic Committee (IOC) has provided International Federations (IFs) and National Olympic Committees (NOCs) with $100 million (£78 million/€86 million) of financial support since the beginning of the COVID-19 crisis, IOC President Thomas Bach revealed today.The German said that around $63 million (£49 million/€54 million) had been allocated to IFs and $37 million (£29 million/€32 million) to NOCs.
Speaking via teleconference in the wake of a meeting of the IOC’s Executive Board on Wednesday, Bach also announced that the IOC would “continue supporting the NOCs” with a $150 million (£117 million/€129 million) allocation from The Olympic Partner (TOP) worldwide sponsorship programme.This would be payable by the end of the year.The IOC later published a list of 15 IFs said to have received an IOC loan, along with a further five that had received an IOC donation.
The 15 to have received loans were: the International Basketball Federation, International Golf Federation, International Gymnastics Federation, International Hockey Federation, International Judo Federation, International Modern Pentathlon Union, International Swimming Federation, International Tennis Federation, International Cycling Union, World Archery, World Athletics, World Rowing, World Rugby, World Sailing and World Taekwondo.
The five IFs to have received a donation were: the International Federation of Sport Climbing, International Surfing Association, World Baseball Softball Confederation, World Karate Federation and World Skate.The quintet all represent sports added to the Tokyo 2020 Olympic programme without acquiring the right to participate in the eventual revenue share to be distributed from broadcast revenues generated by the Games.
Specific amounts made available to individual IFs were not disclosed.The IOC announced in May that it expected the one-year postponement of Tokyo 2020 to cost it up to $800 million (£624 million/€688 million), of which some $150 million would take the form of an “aid package” for the Olympic Movement.
While broadcasting rights revenue is accounted for and redistributed only after the Games to which it relates, TOP programme revenue is generally recorded by the IOC every year.In 2017 and 2018, the first two years of the current Olympic cycle, TOP contributed $1.1 billion (£858 million/€946 million) of revenue – a jump of more than 140 per cent compared with the $450.5 million (£351.4 million/€387.4 million) it contributed in the first two years of the prior cycle, 2013 and 2014.
Much of this, however, is not cash, but rather value-in-kind and, a relatively new concept, marketing-in-kind.The United States Olympic and Paralympic Committee (USOPC) is likely to be especially relieved by today’s announcement that TOP distributions to NOCs would continue.According to the latest IOC accounts, from 2018, the USOPC received $90.8 million (£70.8 million/€78 million) of TOP distributions in 2017 and $89.3 million (£69.6 million/€76.8 million) in 2018.
This compared with just $81.3 million (£63.4 million/€70 million) in 2017 and $80.3 million (£62.6 million/€69 million) in 2018 to other NOCs.The USOPC has made significant cuts due to the financial pressures of the coronavirus pandemic and the postponement of Tokyo 2020, while warning of further cuts if the Games had to be cancelled.Bach said that today’s financial announcements amounted to “a great effort” for the IOC.