IOC Won’t Help with Estimated $35-40 Million Debt from 2016 Rio Olympics

The International Olympic Committee (IOC) has no interest in helping the city of Rio de Janeiro clear a debt of roughly $35-40 million from last year’s Olympic games.

Per the Associated Press (via Sports Illustrated), the organisation’s executive board made the decision after a meeting in Switzerland on Sunday. In a statement, the IOC pointed at the “record” $1.53 billion contributions that were already made.

Per the report, host cities and countries are contractually obligated to pay Olympic debts. In the case of Rio, the nation of Brazil could struggle to help, with the country caught in a major recession.

Read Bleacher Report



Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Discover more from Swimmer’s Daily

Subscribe to get the latest posts to your email.