International Olympic Committee advises of record income through 2021 to 2024 cycle
The International Olympic Committee (IOC) has advised that it will close its 2021-2024 cycle with record revenues of US$7.6 billion, enabling the distribution of US$6.8 billion across various branches of the Olympic Movement - a 12% increase compared to the previous cycle.
These figures were presented at the Olympic Summit held in Lausanne, Switzerland at the weekend, with the participation of 33 sports leaders, including IOC President Thomas Bach and the seven candidates vying to succeed him in the March 2025 elections.
The closed-door meeting highlighted the positive financial outlook for the IOC and the Olympic Movement with projected historic revenue in the next cycle.
According to the IOC, projected revenues for the 2025-2028 cycle will reach $7.3 billion, thanks to already-signed sponsorship and broadcast rights agreements. Additional income is expected from pending media rights in certain regions and new initiatives such as the Olympic Esports Games and the implementation of the Olympic Agenda on AI.
In total, the IOC has already secured $13.5 billion in revenue for the 2025-2028 and 2029-2032 cycles, solidifying its financial position.
The meeting also celebrated the success of the Paris Olympics and addressed key issues, including recent developments from the World Anti-Doping Agency, raising concerns about the limited financial commitment from some governments.
The Summit also discussed plans for the Esports Games.
Image credit Shutterstock.
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