Friday, November 30, 2012
London revenues help summer sports
LAUSANNE, Switzerland -- Summer sports federations are set to receive an increase in revenues from the London Olympics compared to their share from the 2008 Beijing Games.
The Association of Summer Olympic International Federations shared a total of $296 million among the 28 sports on the 2008 Beijing Olympics program.
Andrew Ryan, ASOIF director, says the 26 sports federations on the London program will receive a "substantial increase" this time.
Ryan says the final figure could top $400 million. The total will be known in January when the IOC completes collecting revenue from broadcasters and sponsors.
The International Association of Athletics Federations will get the biggest single share based on ASOIF's formula. The second-tier of ASOIF members includes basketball, soccer, gymnastics and swimming.