U.S. Olympic & Paralympic Committee finances in peril with Tokyo Games delayed
4 years, 4 months ago

U.S. Olympic & Paralympic Committee finances in peril with Tokyo Games delayed

LA Times  

The Olympic rings in front of the International Olympic Committee headquarters in Lausanne, Switzerland. Tax records and other financial statements show the U.S. Olympic & Paralympic Committee operated at a $54-million deficit in 2019 — a worrisome number given the additional losses the organization will suffer from the coronavirus shutdown this year. The USOPC opened its books to the public on Monday in what leaders called a “commitment to accountability and transparency.” Deficits are not uncommon in non-Olympic years — the committee generates much of its revenue from the Games — but with the Tokyo Olympics postponed until the summer of 2021, that payday has been put off. Olympics L.A. Olympic officials ask IOC to allow athlete protests Casey Wasserman, the head of the LA28 organizing committee wants rule changed so athletes can demonstrate against racism during the Olympic Games. For 2019, federal tax documents show the organization spent $248 million, about a third of which went directly to athletes and the national governing bodies that oversee each sport.

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History of this topic

Olympic prize money ‘unfair’, favours the elite, says IOC
3 weeks ago

Olympic prize money ‘unfair’, favours the elite, says IOC

The Hindu  

Offering prize money at the Olympic Games was unfair and was shown at the Paris Games to favour a small number of elite athletes to the detriment to others, the International Olympic Committee said on Tuesday. IOC spokesman Mark Adams said that the IOC’s executive board had discussed the topic of prize money distribution, raised by International Federations and athletes’ …

Olympians are turning to OnlyFans to fund dreams amid as they decry a 'broken' finance system
4 months, 2 weeks ago

Olympians are turning to OnlyFans to fund dreams amid as they decry a 'broken' finance system

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. When asked by The Associated …

Olympics 2024: How much money do athletes win for gold, silver and bronze?
4 months, 3 weeks ago

Olympics 2024: How much money do athletes win for gold, silver and bronze?

The Independent  

Sign up to our free sport newsletter for all the latest news on everything from cycling to boxing Sign up to our free sport email for all the latest news Sign up to our free sport email for all the latest news SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our …

US Olympic and Paralympic Committee awards Sarah Hirshland a five-year contract extension as CEO
5 months, 3 weeks ago

US Olympic and Paralympic Committee awards Sarah Hirshland a five-year contract extension as CEO

The Hindu  

The U.S. Olympic and Paralympic Committee announced on Wednesday it was giving a five-year contract extension to CEO Sarah Hirshland in a move that will keep the executive in her role through the 2028 Los Angeles Games. In a letter addressed to the USOPC community, chairman Gene Sykes said Hirshland’s “accountability, transparency, and inclusivity has transformed our organization.” “Notably, she …

One of the biggest hurdles for athletes on the Paris Olympic path: Money
7 months, 1 week ago

One of the biggest hurdles for athletes on the Paris Olympic path: Money

Al Jazeera  

Full-time training, travel to compete, medical and most other costs for these athletes are out of pocket. How to train and cover one’s costs and many athletes have turned to platforms like GoFundMe in order to fund their Olympic journey. Associations including USA Swimming, US Taekwondo and US Rowing offer small stipends for athletes training for the Olympics primarily after …

Olympics boss distances himself from athletics prize money move
7 months, 4 weeks ago

Olympics boss distances himself from athletics prize money move

New Indian Express  

LAUSANNE, SWITZERLAND: The head of the International Olympic Committee distanced himself from a taboo-busting move from World Athletics' governing body to offer prize money to gold medallists at this year's Paris Olympics. During an exclusive interview with AFP, IOC boss Thomas Bach made it clear that he thought international sports federations like World Athletics should be focused on reducing inequalities …

Olympic sports bodies criticize track and field’s move to pay $50,000 for Paris gold medalists
8 months ago

Olympic sports bodies criticize track and field’s move to pay $50,000 for Paris gold medalists

Associated Press  

GENEVA — Olympic sports bodies criticized World Athletics on Friday for promising to pay $50,000 for each track and field gold medal won at the Paris Olympics. Last week’s move by the track body and its president Sebastian Coe broke with tradition because the International Olympic Committee does not pay prize money, though many state governments and national Olympic bodies …

$50k for gold as Coe takes athletics down a different track
8 months, 1 week ago

$50k for gold as Coe takes athletics down a different track

China Daily  

A Paris 2024 Olympic and Paralympic Games' athletics track of two shades of purple manufactured by Mondo Sports Flooring is installed next to the Stade de France stadium in Saint-Denis near Paris, France, March 24, 2024. Track and field is set to become the first sport to introduce prize money at the Olympics, with World Athletics saying on Wednesday it …

$50k for gold as Coe takes athletics down a different track
8 months, 1 week ago

$50k for gold as Coe takes athletics down a different track

China Daily  

A Paris 2024 Olympic and Paralympic Games' athletics track of two shades of purple manufactured by Mondo Sports Flooring is installed next to the Stade de France stadium in Saint-Denis near Paris, France, March 24, 2024. Track and field is set to become the first sport to introduce prize money at the Olympics, with World Athletics saying on Wednesday it …

World Athletics introduces prize money at the Olympics; Paris winners to get $50,000
8 months, 2 weeks ago

World Athletics introduces prize money at the Olympics; Paris winners to get $50,000

The Hindu  

Track and field is set to become the first sport to introduce prize money at the Olympics, with World Athletics saying Wednesday it would pay $50,000 to gold medalists in Paris. World Athletics President Sebastian Coe told reporters that the move is meant "to recognize that the revenue share that we receive is in large part because our athletes are …

Track and field introducing prize money at Olympics with Paris gold medalists to get $50,000
8 months, 2 weeks ago

Track and field introducing prize money at Olympics with Paris gold medalists to get $50,000

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Track and field is set …

Olympic track and field gold medalists to receive prize money from World Athletics for first time
8 months, 2 weeks ago

Olympic track and field gold medalists to receive prize money from World Athletics for first time

New York Times  

Track and field gold medalists in this summer’s Paris Olympics will receive $50,000 in prize money from the sport’s governing body, marking the first time an international federation has paid athletes for Olympic success. World Athletics, the international governing body overseeing track and field, said Wednesday a $2.4 million pot will be distributed across the 48 track and field events, …

Olympic sports bodies want talks with IOC on threats from adding cricket and others to 2028 program
1 year, 1 month ago

Olympic sports bodies want talks with IOC on threats from adding cricket and others to 2028 program

The Hindu  

Olympic sports bodies want urgent talks with the IOC about the risk of cuts in their revenue shares and medal events at the 2028 Los Angeles Games because cricket and other newcomers were added to the program. The International Olympic Committee last month approved cricket, baseball/softball, flag football, lacrosse and squash for 2028 and kept boxing, modern pentathlon and weightlifting …

Paris Olympic organizing head says budget ‘under control’ a year ahead of 2024 Games
1 year, 5 months ago

Paris Olympic organizing head says budget ‘under control’ a year ahead of 2024 Games

Associated Press  

PARIS — The operating budget for the Paris Olympics is “under control,” the president of the organizing committee said Tuesday. With one year to go before the opening ceremony, organizing committee president Tony Estanguet said partnership deals are on track, with 22 new sponsors joining since the start of the year. It’s obviously the first time that a sporting event …

Tokyo Olympics cost 20% more than organiser reported: audit
2 years ago

Tokyo Olympics cost 20% more than organiser reported: audit

The Hindu  

Last year’s pandemic-delayed Tokyo Olympics cost 20 per cent more than the final figure reported by the organising committee, according to an analysis by Japan’s audit board. A report issued late Wednesday found the Games cost 1.7 trillion yen, up from the 1.42 trillion yen reported by Tokyo 2020 earlier this year. The audit board said organisers had incorrectly failed …

French authorities chip in €111 million for 2024 Paris Olympics
2 years ago

French authorities chip in €111 million for 2024 Paris Olympics

Firstpost  

Extra cash includes 71 million euros more for the Paralympics, 12 million for “sports equipment”, 15 million for regional “redevelopment projects” and eight million for anti-doping. Paris: French authorities said Friday they will increase their contribution to the 2024 Paris Olympic and Paralympic organising committee by 111 million euros. They did say extra cash includes 71 million euros more for …

$13 billion cost for COVID-delayed Tokyo Olympics is double the original estimate
2 years, 6 months ago

$13 billion cost for COVID-delayed Tokyo Olympics is double the original estimate

LA Times  

U.S. skateboarder Jake Ilardi competes in the men’s street prelims during the Tokyo Olympic Games. The final price tag for last year’s COVID-delayed Tokyo Olympics was put at $13 billion, the organizing committee said Tuesday in its final act before it is dissolved at the end of the month. Olympics 2020 Tokyo Olympics: Complete coverage from 29th Summer Games News, …

Tokyo Games CEO: Official costs known early next year
3 years, 2 months ago

Tokyo Games CEO: Official costs known early next year

The Hindu  

Toshiro Muto, the chief executive officer of the Tokyo Olympic organising committee, said on Tuesday he was not ready to say if the cost of the Games would go higher than the official budget figure of $15.4 billion. The people in charge are looking into this.” Muto said it would likely be early next year before the official cost of …

UK govt to invest £232m to support 2024 Olympic, Paralympic athletes
3 years, 4 months ago

UK govt to invest £232m to support 2024 Olympic, Paralympic athletes

The Hindu  

The British government will provide 232 million pounds in addition to National Lottery funding to support Olympic and Paralympic athletes for the Paris Games in 2024, Prime Minister Boris Johnson said. The investment, which represents a 44% rise on the funding received by UK Sport in the run-up to the Tokyo Games, will be used to back aspiring athletes as …

IOC sponsors facing heat over Beijing Olympics, human rights
3 years, 4 months ago

IOC sponsors facing heat over Beijing Olympics, human rights

Associated Press  

TOKYO — Faced with criticism over human rights issues tied to next year’s Beijing Winter Olympics, the IOC said Wednesday that its only responsibility was to “deliver the Games.” International Olympic Committee spokesman Mark Adams was asked at the Tokyo Games about the moral responsibility in seeing to it that athletes and sponsors did not become complicit in supporting alleged …

Paralympians Will Now Get Paid As Much As Olympians For Medals Won
3 years, 4 months ago

Paralympians Will Now Get Paid As Much As Olympians For Medals Won

Huff Post  

LOADING ERROR LOADING The Tokyo Olympics mark the first Olympic Games in which Paralympic medalists will earn the same pay as their Olympic counterparts. Though 2018 Paralympic athletes who won medals received retroactive pay increases following the decision, the Tokyo Games will be the first Olympics to implement the pay parity from the get-go. “Paralympians are an integral part of …

Tokyo Olympics 2020: Up to 10,000 fans allowed at sporting events, say organisers
3 years, 6 months ago

Tokyo Olympics 2020: Up to 10,000 fans allowed at sporting events, say organisers

Firstpost  

Up to 10,000 fans will be allowed at Tokyo Olympic events, organisers said Monday, warning competition could move behind closed doors if infections surge. “In light of the government’s restrictions on public events, the spectator limit for the Olympic Games will be set at 50 percent of venue capacity, up to a maximum of 10,000 people in all venues,” organisers …

HT Editorial: The Olympics dilemma
3 years, 6 months ago

HT Editorial: The Olympics dilemma

Hindustan Times  

There is perhaps no safe way of conducting the Tokyo Olympic and Paralympic Games, slated to begin on July 23. The International Olympic Committee has, however, turned a deaf year to calls for cancelling the Games and gone on the offensive — with its longest serving member, Dick Pound, recently saying that cancelling the event was “essentially off the table”. …

IOC VP gets backlash saying Olympics are on, no matter virus
3 years, 7 months ago

IOC VP gets backlash saying Olympics are on, no matter virus

Associated Press  

TOKYO — If John Coates was trying to stir controversy, he succeeded. Coates replied: “Absolutely, yes.” Coates said what the IOC and local organizers have been trying to persuade the Japanese public about for months: The postponed Olympics with 11,000 athletes from 200 nations and territories will open on July 23 and will be “safe and secure.” But his defiant …

Olympic gold: Colleges, Team USA search for new ways to win
3 years, 8 months ago

Olympic gold: Colleges, Team USA search for new ways to win

Associated Press  

INDIANAPOLIS — It’s a point of pride that stretches across dozens of universities, many of them rivals, and all the college sports leagues, many of which compete for the same dollars and the same talent. As one banner on the Pac-12 conference’s website puts it: “Olympians made here.” The coronavirus pandemic, along with the substantial changes in the college-sports business …

Tokyo Olympics: Federations' finances hit by delay, no bankruptcy fears
3 years, 10 months ago

Tokyo Olympics: Federations' finances hit by delay, no bankruptcy fears

The Hindu  

The 28 Olympic sports federations have taken a big financial hit due to the postponement of the Tokyo Olympics by a year, but even if the Games were cancelled they would not be at risk of bankruptcy, the executive director of the international federations' association said. "We are all committed to delivering the Olympic Games this year," Andrew Ryan, Executive …

IOC expecting 6,000 athletes at Olympic opening ceremony - Olympics News - Sportstar
3 years, 11 months ago

IOC expecting 6,000 athletes at Olympic opening ceremony - Olympics News - Sportstar

The Hindu  

The International Olympic Committee expects only 6,000 athletes to participate in the opening ceremony at the Tokyo Summer Games, more than half of initial estimates, as organizers implement measures to guard against coronavirus infections. The IOC plans to scale back the ceremony because athletes will not be allowed to arrive at the Olympic Village, which can accommodate 18,000 people, more …

Tokyo Olympics: All 68 domestic sponsors agree to new contracts
4 years ago

Tokyo Olympics: All 68 domestic sponsors agree to new contracts

The Hindu  

Tokyo Olympic officials said on Thursday they have reached a “basic agreement” with all 68 domestic sponsors to extend their contracts into next year to support the postponed Games. The Japanese newspaper Nikkei reported earlier this month — citing sources close to the matter — that the top 15 so-called “Gold Partners” would contribute an added 1 billion yen each. …

Tokyo Olympics postponement due to coronavirus pandemic to cost Japan $2.8 billion
4 years ago

Tokyo Olympics postponement due to coronavirus pandemic to cost Japan $2.8 billion

India Today  

The postponement of the Tokyo Olympics from 2020 to 2021 due to the novel coronavirus pandemic is going to cost Japanese a whopping $2.8 billion, the organising committee said on Friday. Tokyo metropolitan government is expected to pay 120 billion yen, the organising committee 103 billion yen and the Japanese government 71 billion yen, organisers said. Tokyo 2020 is also …

Tokyo Games 2021 is on track: IOC assures sports bodies
4 years, 2 months ago

Tokyo Games 2021 is on track: IOC assures sports bodies

The Hindu  

The International Olympic Committee tried to assure dozens of international sports federations on Thursday that the postponed Tokyo Games will open on July 23. The IOC and Tokyo organisers have been holding on-line sessions this week with about 200 national Olympic committees, and with the more than 30 summer sports bodies that are represented on the program. “We are very …

Tokyo Olympics say they found savings even as costs rise
4 years, 2 months ago

Tokyo Olympics say they found savings even as costs rise

The Hindu  

Tokyo Olympic organisers estimate they have found cost-savings of about $280 million by simplifying and cutting some frills from next year’s postponed games. READ| Gakuji Ito, the chief financial officer of the Tokyo Olympics, acknowledged the cost-savings figure was only an estimate. Among them were- changes in equipment and re-configuring venues; fewer decorative banners; a 10-15% reduction in “stakeholders” delegation …

Tokyo Olympics say they found savings even as costs rise
4 years, 2 months ago

Tokyo Olympics say they found savings even as costs rise

Associated Press  

TOKYO — Tokyo Olympic organizers estimate they have found cost-savings of about $280 million by simplifying and cutting some frills from next year’s postponed games. “How we calculated the cost reductions is something that is unprecedented and it is an initiative no one has every experienced,” Ito said, speaking in Japanese. Also largely untouched will be the opening and closing …

IOC gets official look at simplification for Tokyo Olympics
4 years, 2 months ago

IOC gets official look at simplification for Tokyo Olympics

The Hindu  

The IOC and local organisers are trying to “simplify” the postponed Tokyo Olympics, promising to save money in what one study says is already the most expensive Summer Olympics on record. Also largely untouched will be the opening and closing ceremonies, the heavily READ: Vaccines won’t be ‘silver bullet’ for staging Olympics Some of the proposed cuts listed in a …

Olympics cost overruns should make bid cities 'walk away' from the Games, say researchers
4 years, 3 months ago

Olympics cost overruns should make bid cities 'walk away' from the Games, say researchers

ABC  

"The best Games ever" are being remembered in Sydney and around Australia 20 years after Cathy Freeman lit the cauldron to signal the start of the first Olympics of the new millennium. Key points: According to Oxford University researchers, the 2000 Olympics in Sydney cost $6.91 billion, a cost overrun of 90 per cent But the paper found the average …

Tokyo Paralympic Games schedule will be same next year
4 years, 4 months ago

Tokyo Paralympic Games schedule will be same next year

The Hindu  

The Tokyo 2020 Paralympic Games schedule remains essentially unchanged for the event that has been postponed until next year, organisers said on Monday. The Paralympic Games will begin on August 24, 2021, and close on September 5, while the Olympics are to start on July 23. Local organisers and the International Olympic Committee has offered few details about how these …

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