IOC, USOC Officially Sign Landmark New Revenue Agreement
Published May 24, 2012
With the deal done, talk immediately turned to when the USOC would bid to host another Olympics. The previous revenue-sharing agreement, which many Olympic constituents believed gave the USOC too large a share of Olympic revenues, was considered an obstacle to a successful U.S. bid. The USOC’s leadership had said it would not bid until it struck a new revenue-sharing agreement. Despite achieving that, Probst said it was premature to talk about the USOC’s strategy for bidding for a future Olympics.
IOC and USOC leaders declined to spell out the terms of the new deal. IOC Exec Committee member Richard Carrion said that the deal will see the USOC contribute money to cover the cost of future Olympic Games and will receive a smaller percentage of U.S. broadcast rights and Olympic marketing revenue. He added that the deal has an end date.