Swiss Olympic Receives $26M From Switzerland's Lottery Companies
Swiss Olympic "has received CHF24.6M ($26M) from Switzerland's lottery companies Swisslos and Loterie Romande in '11," according to Peter Jegen of the NEUE ZÜRCHER ZEITUNG. Swiss Olympic's annual report revealed that the total payout from the Sport-Toto-Association was exactly CHF24.604,033.35, "which was about CHF100,000 ($105,700) higher than what the organization originally budgeted." The amount represents about half of Swiss Olympic's annual budget of CHF54.3M ($57.4M), which means it also represents a majority of the CHF21.6M ($22.8M) that Swiss Olympic distributes to its 83 member organizations. Besides Swiss Olympic, "the country's football organizations also profit from lottery money." An agreement between the Swiss Football Federation (SFV), Swiss Football League and the Sport-Toto-Association "has been recently extended for three more years." The SFV and the SFL already received a check of CHF4.5M ($4.8M). The amount primarily benefits youth football but also coach and referee training & education as well as women's football (NZZ, 11/14).