Fuss about the IOC aid package: Is it all just loans?

Lausanne (SID) The International Olympic Committee (IOC)'s aid package for distressed associations in times of the Corona crisis continues to cause confusion. The 150 million US dollars made available by the IOC are to be deducted from the associations' income from the Olympic Games in Tokyo. Andrew Ryan, director general of the Association of All Summer Olympic Sports (ASOIF), told industry service Insidethegames that the money that international sports federations and National Olympic Committees (NOCs) receive from the package "will be deducted from revenue shares at the end of next year." This refers to the income that the professional associations have from the Olympic Games in Tokyo and which will initially be missing due to the games being moved to 2021. This hits some associations hard, which have major problems with cash flow (capital flow). The IOC said last week that moving the games would cost the Order of the Ring an additional $800 million. 650 million US dollars would be made available for the organization of the Games in Tokyo, 150 million dollars would be given to associations and NOCs, members of the Olympic family, to bridge liquidity bottlenecks. However, the announcement of the program shortly afterwards caused uncertainty among the associations because it was not clear exactly what the financial aid would look like. The IOC has now announced that it would involve loans, grants or material resources. But according to Ryan, it's all about loans. Despite inquiries, the IOC has not yet informed the table tennis world association ITTF what the financial aid will actually look like. No clear position was taken on this issue in the IOC's communications either. Given this lack of clarity, associations and NOCs cannot currently take advantage of the assistance.

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Fuss about the IOC aid package: Is it all just loans?

The International Olympic Committee (IOC)'s aid package for distressed associations in times of the Corona crisis continues to cause confusion.

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