London 2012 Sports to Share Huge Windfall

The 26 sports that took part in London 2012 are to share a total of $522.5 million, it was announced today.

Though the final amount is yet to be confirmed by the International Olympic Committee (IOC), it was announced at the Association of Summer Olympic International Federations (ASOIF) General Assembly that the sports will definitely receive over $500 million.

ASOIF distributes the money the IOC collects from broadcast fees and sponsors to the international sports federations that were at the London Games.

The sum is a significant increase of the $296 million that sports received after Beijing 2008. The increase is largely a result of the IOC negotiating broadcast and sponsor rights for London in a different manner than for Beijing. The amount for Rio 2016 is expected to be around the same as London’s, as the IOC negotiated rights for both events at the same time.

ASOIF executive director Andrew Ryan told the General Assembly: “The first two payments from London 2012 have already paid in full to the sports federations, with that figure amounting to $475 million.

“A third and final payment is now due, which will be around 10 per cent of the first two payments ($47.5 million).

“This must still be confirmed with the IOC but we certainly expect it to be around this.

“The third and final payment will be made by the end of next month.”

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