| LONDON, July 24
LONDON, July 24 Revenue from selling
broadcasting rights for the Olympic Games between 2014 and 2016
is expected to top $4 billion, the International Olympic
Committee said on Tuesday with sponsorship revenues also on the
IOC President Jacques Rogge said the organisation's finances
were strong and safe with reserves more than trebling since
"For the period 2014-16 we already have $3.6 billion and it
should reach and exceed $4 billion. TV rights totalled $2.2
billion for the period 2002-4," Rogge told an IOC session days
before the start of the London Olympics.
The amount for the 2010-2012 period was 3.9 billion.
Rogge said the organisation had already generated $2.6
billion in broadcast rights revenues for the 2018-2020 period
with negotiations just starting.
The IOC signed their biggest single deal last year, agreeing
to sell the U.S. broadcast rights up until 2020 to NBC for $4.38
"The financial situation is strong and safe," said Rogge,
who will step down next year after 12 years in charge.
"Since Dec 31, 2001 our reserves have grown from 105 million
to 558 million, an increase of 453 million. This financial
solidity is due to success of marketing and broadcast rights."
The IOC has also seen a growth in revenues from sponsors
with its 2013-2016 top sponsors programme expected to generate
$1 billion for the first time.
The 2017-2020 programme has already brought in $722 million
with seven sponsors, Rogge said.
The same programme had been worth 663 million for the period
"Even if our financial situation is solid...we must still
remain realistic. The IOC must ensure that it continues and
intensifies the policy of controlling cost and complexity of the
The IOC has been trying to reduce the size of the Games and
has capped athletes at just over 10,000 and the number of sports
at 28 to keep their product attractive to potential bid cities.
Russia's Sochi will play host to the 2014 Winter Olympics
while Rio de Janeiro will become the first South American city
to stage the summer Games in 2016. The 2020 host city will be
decided next year.
(Reporting by Karolos Grohmann. Editing by Patrick Johnston)