IOC Financial Support To Olympic Movement Hits $100 Million, Announces Virtual Festival With Airbnb

The International Olympic Committee (IOC) has already supported the National Olympic Committees (NOCs) and International Federations (IFs) with around USD 100 million since the outbreak of the COVID-19 crisis.

To date and as needed, USD 63 million have been allocated to IFs and USD 37 million to NOCs.

In addition, it has been confirmed today by the IOC Executive Board (EB) that the IOC will continue supporting the NOCs with the TOP Programme allocation amounting to USD 150 million payable by end of this year. Furthermore, the IOC is committed to ensuring funding for the IOC-Recognised Organisations.

The IOC, as the leader of the Olympic Movement, is playing a critical role in supporting its stakeholders during the COVID-19 outbreak. The organisation has swiftly delivered on its commitment to allocate an aid package programme for the Olympic Movement.

IOC President Thomas Bach said: “The Olympic Movement is facing an unprecedented challenge. The IOC has to organise postponed Olympic Games for the first time ever, and has to help its stakeholders come through this global crisis. This new situation will need all our solidarity, creativity, determination and flexibility. We shall all need to make sacrifices and compromises. Extraordinary circumstances call for extraordinary measures. This situation requires every one of us to do our part, and this applies to all of us, including the IOC. We are glad to be able to help with our support programmes.”

The IFs are facing financial hardship due to the cancellation of sports events and the impact on the sporting calendar of the Olympic Games Tokyo 2020 being held in 2021. Due to the urgency of the situation, payments to IFs started in June 2020, and the programme is still continuing. The IOC’s support comes in different forms, and is decided after an assessment of needs and on a case-by-case basis.

THE IOC, THE IPC AND AIRBNB ANNOUNCE SUMMER FESTIVAL OF OLYMPIAN & PARALYMPIAN ONLINE EXPERIENCES

The IOC has also announced a new summer festival in association with new partners Airbnb.

– With the Olympic Games and Paralympic Games Tokyo 2020 postponed until 2021, the IOC, the IPC and Airbnb will bring the spirit of the Olympics and Paralympics online with a curated programme of activities hosted by athletes for the first time in history

– Bookings for the five-day event will open on 22 July, with more than 100 Olympian and Paralympian Online Experiences offered by Naomi Osaka, Yusra Mardini, Rui Hachimura, Allyson Felix, Lex Gillette, and others

– Fans who book will proudly support their heroes ahead of Tokyo 2020, as proceeds will provide valuable income to athlete hosts, now and beyond the festival, including some who are on the road to their Olympic and Paralympic dreams

The International Olympic Committee (IOC), the International Paralympic Committee (IPC) and Worldwide Olympic Partner Airbnb are announcing a five-day summer festival featuring more than 100 Olympian and Paralympian Online Experiences hosted virtually by some of the world’s best athletes. The festival of Olympian and Paralympian Online Experiences will kick off on 24 July, when the Olympic Games Tokyo 2020 were originally scheduled to begin, and is an opportunity for athletes to generate income while they share their passion for the Olympic and Paralympic Games and their sport with guests.

“The Olympic Games bring the whole world together and, whilst we will all have to wait one more year to celebrate in Tokyo, the Olympic flame continues to be the light at the end of the dark tunnel humankind is currently going through,” said IOC President Thomas Bach. “It demonstrates that we are stronger together. This festival is a great platform to unite and inspire the world in the spirit of friendship and solidarity this summer. The IOC puts the athletes at the heart of the Olympic Movement and supports them at every stage of their journey. We are delighted to collaborate with Airbnb to provide innovative economic empowerment opportunities for Olympic and Paralympic athletes around the world.”