USOC CEO Scott Blackmun said he is hopeful the USOC and IOC will resolve their revenue-sharing negotiations after a new proposal arose during two days of talks this week in N.Y. Blackmun declined to specify what the proposal entailed but expressed "genuine optimism" that it would bring an end to the impasse between the two parties. Blackmun said, "If we figure this out, we'll ask ourselves why we didn't think of it before." The USOC and IOC plan to analyze the new proposal's financial impact and speak again next week.
Blackmun said the USOC remains open to bidding for the '20 Olympics and will submit paperwork later this month that would allow it to put forward a bid city in September. The organization has met with U.S. cities interested in hosting the Olympics, but Blackmun said it won't put forward a city unless it resolves the revenue-sharing issue with the IOC. Blackmun: "As each day goes by, the likelihood of a bid decreases. We want to make sure if we submit a bid, it's a good bid, and ... we're not going to focus on a bid if we don't get this (revenue-sharing agreement) done."
The USOC and IOC have been negotiating on and off since '05 to adjust the amount of revenue the USOC receives from the IOC. A contractual agreement signed in the '90s guarantees the USOC receives a 12.75% share of U.S. broadcast revenues and a 16% share of global sponsorship revenues collected by the IOC. International sports federations and other national Olympic committees have complained that the USOC receives a larger share of Olympic revenue than it deserves.
The USOC and IOC have met six times this year to discuss the issue. The most recent talks took place Thursday night and Friday in N.Y. at the offices of Banco Popular. The IOC was represented by Marketing Commission Chair Gerhard Heiberg, Chief of Staff Christophe De Kepper and Finance Commission Chair Richard Carrion, who is Chair & CEO of Banco Popular. The USOC was represented by Blackmun, Chair Larry Probst and special advisor Fraser Bullock.
