USOC, IOC Sign Revenue-Sharing Deal With Eyes On Future
Added by Gregg Snyder on May 24, 2012.
Continuing a partnership and improving the future of the Olympic Movement was always on the minds of the International Olympic Committee (IOC) and the United States Olympic Committee (USOC). Today, they announced another step in the right direction.
The committees announced the signing of a new revenue-sharing deal that will drive their financial relationship for two decades. The deal will begin in 2020.
The deal essentially restructures how both TOP sponsorship and U.S. television revenues are shared, while also providing for USOC contributions to the IOC’s administrative costs associated with the Olympic Games.
Both sides are pleased with the deal and understand how important it was to get this done.
USOC CEO Scott Blackmun said, “This agreement demonstrates the commitment of the United States and the USOC to the worldwide Olympic movement. We look forward to working with the IOC, our fellow Olympic Committees, the International Federations and our National Governing Bodies to strengthen the Olympic Movement and enhance the resources available for athletes around the globe.”
The deal also shows an improved relationship between the two sides. It could also become a stepping stone for the United States to make future bids at hosting the Olympic Games.