The British Olympic Association (BOA) is determined to take its dispute over running costs of the London 2012 Olympics with its organising committee to the Court of Arbitration for Sport (CAS) after the International Olympic Committee (IOC) ruled in favour of the Games body (LOCOG) on Friday, March 18.
The BOA claims that the running costs of the Paralympics should not be taken into account when calculating the surplus Games revenues to be awarded to the national body. Irregardless of the IOC’s decision to support the side of LOCOG in the row, the BOA had already lodged a submission with the CAS prior to Friday’s ruling.
A statement from the IOC read: “The IOC was asked to reach a final and binding decision on how the surplus of the Games should be defined. Having studied the documents and the past recent history of the Games bidding process we have decided that the word ‘surplus’ clearly represents the financial results from the staging of the Olympic Games and the Paralympic Games combined.”
A London 2012 spokesperson responded to the IOC’s judgement by saying: “We are pleased that the IOC has ruled on this technical point confirming we should continue to determine any surplus on the basis of combined costs and revenues from both the Olympic and Paralympic Games. Now this is settled we look forward to moving ahead together with the BOA to realise our shared vision of hosting a spectacular Olympic and Paralympic Games.”
However, the BOA insisted it would continue with its CAS appeal, adding: “Decisions made by CAS are final and binding, and CAS is the agreed forum for resolution as specified by the Olympic Charter and the key contractual agreements between the various Olympic stakeholders.”