International Olympic Committee reserve fund grows to $455 million
By APWednesday, October 7, 2009
IOC reserve fund grows to $455 million
COPENHAGEN — The International Olympic Committee’s reserve fund is still growing despite the global financial crisis.
IOC president Jacques Rogge said Wednesday that the committee’s reserve fund grew to $455 million at the end of August. At the end of 2001, the fund was worth $105 million. It grew to $422 million by the end of 2008.
The IOC can “be confident about the future,” Rogge said.
On other issues, Rogge said the IOC will continue to demand that broadcasters deliver the games on free TV. Speaking to a meeting of the IOC, he also said the committee will work closely with Interpol against irregular betting and match-fixing.
Rogge described the fight against doping as “our absolute priority” and said the IOC would have “no hesitation” about calling in police to investigate suspected doping.
IOC marketing revenues in 2009-12 will climb to at least $883 million, “and negotiations are still underway,” Rogge said. Sponsors have already pledged $563 million for 2013-16 “and more are in the pipeline,” he added.
The IOC’s television revenues grew to $3.8 billion for 2010-12 and $920 million has been secured so far for 2014-16.
