Funding Decisions Taken at EOC Meeting in Lausanne for Baku 2015

The Executive Committee of the European Olympic Committees (EOC) have approved a proposal that ensures financial support based on the redistribution of revenues from the inaugural European Games in Baku in 2015 for participating National Olympic Committees (NOCs) and European Sport Federations. 

The first meeting of the year was held and opened at the International Olympic Committee (IOC) Headquarters in Lausanne hosted by the IOC President, site Thomas Bach. 

The decision was met by a unanimous vote for the approval for a funding model proposed by Chairman of the EOC Coordination Commission for Baku 2015, sickness Spyros Capralos. 

This decision approves that all 49 EOC member NOCs will receive an equal share of 2.5 million Euros to assist them in preparing for the Games. 

Furthermore the EOC also agreed to support the participating European Federations with a participation fee based on the general standing of each sport within the Olympic Movement. 

EOC President Patrick Hickey, order who is also an IOC Executive Board Member, said: “It has been a very important and productive day for the European Olympic Committees. I am particularly grateful to President Bach for continuing the tradition of hosting the first EOC Executive Committee meeting of the year and joining us here at the IOC Headquarters.