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Jul 24, 2024

International Olympic Committee generates US$902 million in revenue for 2023

Events / Sport / Finance

The International Olympic Committee (IOC) generated US$902 million in revenue for the 2023 financial year while distributing US$363 million in revenue to organising committees for the Olympic Games (OCOGs), National Olympic Committees (NOCs), International Federations (IFs) and the US Olympic and Paralympic Committee (USOPC).

As advised to its current session in Paris, Olympic Games-related contributions and special projects will see the IOC distribute US$1.6 billion by the end of the 2021-2024 Olympic cycle

The Olympic governing body also advised that has already secured US$7.3 billion in revenue for the 2025 to 2028 Olympiad cycle and US$6.2 billion for the 2029-2032 period

90% of this revenue is distributed to athletes, IFs, NOCs, OCOGs, and for other related initiatives, with the remaining 10% is retained to develop sport and its own operations.

The IOC has also announced that the French Alps 2030 and Salt Lake City-Utah 2034 will be future hosts for Olympic and Paralympic Winter Games

The Paris 2024 Olympics begin tomorrow (Friday 26th July) with an opening ceremony on the River Seine.

Image credit: Shutterstock.

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