USOC, IOC successfully reach financial pact

The following is a joint statement from the IOC and the U.S. Olympic Committee 

The International Olympic Committee (IOC) and the United States Olympic Committee (USOC) have reached agreement on a significant financial contribution from the USOC to resolve the Games’ costs issue.

During a very productive and amicable meeting at the Youth Olympic Games in Singapore last month, the two sides also agreed to establish a process to accelerate talks on the outstanding issue of revenue sharing. 

The agreement followed fruitful discussions in Denver, Colorado, last year and at the Vancouver 2010 Olympic Winter Games this February. The IOC and USOC delegations have pledged to continue working in a constructive manner and in a spirit of good faith and cooperation.     

The following statement is attributable to USOC Chairman Larry Probst

I am pleased that our relationship has progressed to the point where we can begin to make significant headway on a number of issues that have been a point of contention between the USOC and the IOC.  This agreement demonstrates that when people work together constructively to develop innovative solutions to challenging problems, the future of the Olympic Movement will benefit.

The following statement is attributable to USOC CEO Scott Blackmun

I am very pleased that we can put the issue of Games’ costs behind us for the time being so that we can pursue a broader discussion. That discussion will be difficult and complicated, but we will be aided by the fact that we can have a constructive dialogue, and that would not have been possible just a few months ago.

For more information, please contact the USOC Communications Division at (719) 866-4529 or visit www.teamusa.org. Follow us on Twitter and Facebook.