Thu, July 16, 2020

IOC announces it has supported International Federations with around $100million since the start of the Covid-19 pandemic

IOC announces it has supported International Federations with around $100million since the start of the Covid-19 pandemic

The International Olympic Committee (IOC) has revealed that it has so far supported International Federations (IFs) and National Olympic Committee’s (NOCs) with around $100million since the outbreak of Covid-19.

To date $63million has been allocated to IFs and $37million to NOCs in order to provide support during these challenging times and has also confirmed that the total amount provided will top $150million by the end of 2020. Some IFs including World Rugby and the International Tennis Federation have received loans from the IOC whilst IFs such as World Karate Federation have received a donation from the IOC.

The funds have been provided to IFs and NOCs so that their long term future can be stabilised as they have suffered large cash flow problems from the suspension and postponement of sport across the world, such as the 2020 Tokyo Olympics being postponed until 2021. The IOC also announced that it is providing assistance to athletes through scholarships and grants which allow athletes to maintain their income whilst competition is suspended meaning that they are not receiving prize money, which many athletes heavily rely on.

The IOC has also recently confirmed its commitment to staging the Tokyo Olympics in 2021 and will take all necessary measures to avoid a further postponement or cancelling the games.

You can read the IOC media release here.


Recent News Articles

Wed, February 01, 2023

Russian Chess Federation to leave European Chess Union for Asian Chess Federation

The Chess Federation of Russia (FCR) is set to change its continental body from the European Chess Union (ECU) to the Asian Chess Federation (ACF) following war with Ukraine. 

Read More

Tue, January 31, 2023

Scholars call on Trudeau to launch independent inquiry into sports in Canada

Canadian and international scholars have written a letter to Canadian Prime Minister Justin Trudeau calling for an independent inquiry into sports in Canada. 

Read More

Mon, January 30, 2023

Italy prop Ivan Nemer suspended until 30 June for giving Benetton teammate Cherif Traorè a rotten banana for secret Santa

Italy prop Ivan Nemer has been suspended until 30 June by the Italian federation after he gave his Benetton teammate Cherif Traorè a rotten banana as part of the club’s secret Santa. 

Read More