QUEBEC CITY, Canada, May 28. IN a move that could wind up having the Olympics be hosted in the United States once again, the U.S. Olympic Committee and the International Olympic Committee announced a new revenue sharing agreement over the weekend.
According to the AFP, the USOC will receive “a smaller percentage of U.S. broadcast rights once minimums are reached,” IOC executive Richard Carrion said. This is a tweak from the previous setup where the USOC “received 20 percent of the funds from the IOC's top sponsors and 12.5 percent of the US television revenue from the Games — equal to the amount received by all other national committees combined.”
The previous revenue deal has been targeted as one of the reasons why multiple U.S. based host cities have failed in Olympic bids in the past, with cities like New York and Chicago both missing out on hosting recent Olympics. The new revenue sharing pact will begin with the 2020 Olympic Games.
“I think this is a terrific arrangement for both the IOC and the USOC and more importantly it's a great outcome for the Olympic movement around the world,” USOC president Larry Probst told the AFP, also stating that it could remove “a roadblock to a successful bid from the United States” for future Games.