Olympic sports fret over money lost over Covid

Lausanne, April 2

The postponement of the Tokyo Olympics and the shutdown of the sporting calendar because of the coronavirus pandemic are going to hit international sports federations hard financially.

Many sports that are part of the Games depend heavily on the payouts every four years from the International Olympic Committee (IOC).

“The situation is tense and very gloomy. An assessment will be made, but clearly some posts are under threat,” said an official of a major international federation.

The 28 international federations (IF) of the sports that were due to be present at the Tokyo Olympics would have received substantial sums from the IOC. However, the postponement of the Games until 2021 could lead to a freeze of their payment.

The three largest (athletics, swimming and gymnastics) can expect approximately $40 million. For the second tier, made up of cycling, basketball, volleyball, football and tennis, the sum is $25 million. For group three, which contains eight sports, including boxing, rowing, judo and table tennis, it is $17 million. — AFP