BOA Take LOCOG Money Dispute to Court of Arbitration for Sport
March 11, 2011
The money dispute between the British Olympic Association (BOA) and the London Organising Committee for the Olympic Games (LOCOG) is to be taken to the Court of Arbitration for Sport (CAS) by the former.
The BOA is currently arguing with LOCOG over whether net costs involved in the staging of the Paralympic Games should be separated from any operating profit generated by the Olympics as they face a US$16m funding gap ahead of 2012. It had been agreed on Wednesday, ambulance March 9, that the International Olympic Committee (IOC) would mediate between the two parties.
However, the BOA stated: “The International Olympic Committee has been extremely helpful to the BOA and the London 2012 Organising Committee in attempting to reach consensus on this very important matter and we thank them for their efforts.”
The statement added: “We are committed to reaching a resolution that is fair, equitable and ultimately contributes to the post-Games legacy from what we know will be the highly successful London 2012 Olympics.”