New Zealand Olympic Committee Records Loss, Hails Successful Rio Games

The New Zealand Olympic Committee recorded a deficit of NZ$1.15M, which it said was "budgeted for because of the 2016 Rio Olympics," according to STUFF. Mike Stanley, who was re-elected president for a third and final term at the annual meeting on Thursday, said that the Olympics "were a great success for New Zealand," though they had been "resource-heavy" when it came to funding for the non-profit body. The annual report noted there had also been "reduced funding from charitable trusts and a lower profit from fundraising." Stanley hailed '16 as a "milestone" year, as "New Zealand's athletes brought home more medals than any other team in our Olympic history." The haul was four Gold, nine Silver and five Bronze medals (STUFF, 5/4).