Monday, April 16, 2012
Revenue-sharing talks on right track
LONDON -- The head of the U.S. Olympic Committee said Monday he is hopeful a deal can be struck in the long-running talks with the IOC on revenue sharing -- an issue that has strained ties between the organizations.
USOC chief executive officer Scott Blackmun told The Associated Press that the issue is complex and would not be resolved overnight. Even so, he hoped the two parties could put this behind them sooner rather than later.
"There is a genuine desire on both sides to get to the finishing line," he said.
The talks center around renegotiating a deal in which the USOC receives 20 percent of the International Olympic Committee's global sponsorship revenue and almost 13 percent of its U.S. broadcast rights fees.
The IOC thinks the U.S. receives too much money in the arrangement and wants some of the funds to be redistributed.
But in a brief interview at the U.S. ambassador's residence in London, Blackmun said there had been consistent movement despite the protracted talks.
"It's only been a year that we've been talking about an issue that has been on the table for 20-plus years," he said.
Details of the negotiations have not been disclosed, and any deal wouldn't go into effect until 2020.
The revenue-sharing issue is important because it is holding up potential U.S. bids for future games. The United States has said it won't bid again for another Olympics until the issue is resolved.