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IOC Approves a Financial Envelope of Up to USD 800 Million to address the Covid-19 Crisis

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© Copyright International Olympic Committee 2020. This content is the exclusive property of the International Olympic Committee (IOC). IOC-VNRs are for bona fide news reporting purposes only and all rights required for their production have been cleared. Terms and Conditions of the IOC Newsroom and Olympic.org apply.
Location: Olympic House, Lausanne, Switzerland

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The IOC offers the following Video News Release to all news agencies, broadcasters and online news platforms free of charge.

International Olympic Committee (IOC) President Thomas Bach announced a USD 800 million aid envelope that will cover the costs of the postponement of the Olympic Games Tokyo 2020 until the summer of 2021 and also to support International Federations (IF), National Olympic Committees (NOC) and the IOC-Recognised Organisations during the Coronavirus pandemic.

President Bach revealed the package after chairing the remote meeting of the IOC Executive Board (EB) in Lausanne, Switzerland today (May 14).

The envelope is in two parts – USD 650 million will cover the costs of the 12-month postponement of Tokyo 2020, and the remaining USD 150 million will be allocated to IFs, NOCs and approved athletes who have seen their cash flow dry up following the global suspension of sport.

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Copyright

© Copyright International Olympic Committee 2020. This content is the exclusive property of the International Olympic Committee (IOC). IOC-VNRs are for bona fide news reporting purposes only and all rights required for their production have been cleared. Terms and Conditions of the IOC Newsroom and Olympic.org apply.

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