IOC VP Dick Pound announced yesterday from the U.S. Olympic
Congress at the RCA Dome that the USOC will receive a larger
share of Olympic TV revenue beginning in 2004, according to Pat
McKee of the INDIANAPOLIS STAR-NEWS. USOC Exec Dir Dick Schultz
said the increase, from 10% to 12.75%, is expected to bring in
between $73-100M in additional money from the 2004, 2006 and 2008
Olympic Games (INDIANAPOLIS STAR-NEWS, 10/29). The USOC will
also receive 50% of any bonus money if those Games are
"especially profitable" for NBC -- which paid $2.3B for the
rights to televise the three Olympiads. Additionally, the
agreement gives the USOC control over the commercial use of the
Olympic rings logo, historic posters and films. Schultz said the
USOC originally asked for 15%, but that he is "extremely pleased"
with the deal. The USOC also approved its '97-2000 budget of
$393M. That is down from the $426M for the four years that ended
with '96 (Karen Allen, USA TODAY, 10/29). One reason the IOC
decided to give the USOC a "greater cut" is that the IOC had
already "upped its own take" of TV rights from 40% to 51%,
according to the ATLANTA CONSTITUTION's Karen Rosen. Pound said
another reason for the deal was "peace and quiet" from a "hurdle
which had been festering for a number of years" (ATLANTA
CONSTITUTION, 10/29).
