Vancouver 2010 Winter Olympic Games officials said Tuesday they hope to have a deal by the end of February with the International Olympic Committee (IOC) on sharing broadcast revenues.
There is still no information on how much revenue from world broadcast contracts will be shared by the IOC. Vancouver 2010 CEO John Furlong said, “our goal is to have this all sort of completed, give or take a few weeks, sometime in late February”. He added that a meeting with the IOC is planned for mid January.
The IOC reportedly wants to give VANOC and London 2012 organizers fixed amounts based on what it gave Turin for the 2006 Winter Games and what it will give Beijing for the 2008 Summer Games, but adjusted for inflation.
The operating budget will be paid for by private sources including broadcast revenues, but the provincial government is responsible for any budget overruns. Vancouver 2010 said its business plan will have a “significant” contingency fund.
