IOC Scandal Affecting Sydney Sponsorship -- April 24, 1999

The organizing committee for the 2000 Olympic Games slashed $32 million from its expected revenue, blaming the International Olympic Committee's bribery scandal for sponsorship shortfalls. Sydney organizers have been trying to rally sponsors to fill a hole in projected revenue, but conceded that cuts will have to be made to keep the games within budget. Organizers said the cuts would not affect athletes, spectators or the overall quality of the games.