NEW YORK - As the International Olympic Committee looks ahead to the Summer Games with trepidation, it does have something that could cushion the blow in case of cancellation: a US$897 million reserve fund to help finance global sports.
The fund was established as a backstop for international sports federations that rely on the IOC to balance their budgets, said Mr Dick Pound, the organisation's longest-serving member. That's not soccer or basketball, but smaller sports like judo, volleyball and water polo. CASES SURGE Coronavirus cases have surged to more than 80,000 worldwide, with new hot spots in Italy, South Korea and Iran in addition to the epicentre in China.
On Tuesday, the committee sent an updated e-mail to its teams advising them on the latest virus fallout, including event cancellations in both Italy and Iran and strict travel recommendations. The committee said it has full confidence that the authorities,"in particular in Japan and China, will take all the necessary measures to address the situation."
The reserve fund is just part of the IOC's risk management stores. The organisation also has US$647 million in assets set aside from TV money, in case it needs to refund parts of those contracts; US$261 million to cover deficits in its main sponsorship programme; and US$447 million to help cover distribution to national Olympic bodies.
xhertx 此の金で放送局へのキャンセル料払えるね！
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