That money goes in part toward mounting the Olympic Games, and in part to national and international governing bodies to help fund athletes around the world. For the Summer Games in Rio, for example, the IOC distributed $540 million to international federations and another $540 million to national Olympic committees.
The reserve fund is just part of the IOC’s risk-management stores. The organization also has $647 million in assets set aside from TV money, in case it needs to refund parts of those contracts; $261 million to cover deficits in its main sponsorship program; and $447 million to help cover distribution to national Olympic bodies.
Pound, who has been an IOC member since 1978 but isn’t involved in day-to-day management, said the organization isn’t in any immediate rush to make a decision on the games. He said late May, two months out from the opening ceremony, will likely be the point at which the entire Olympic movement needs to know if the games will be canceled or postponed.
“This is the most dangerous threat to the Olympics other than a state of actual war,” Pound said. “This is the new war scenario.”
This article was provided by Bloomberg News.