Bach is currently in Costa Navarino, Greece, where IOC members have gathered for the 144th Session taking place from 19-21 March. His eventual successor will be elected this week and take over from the 71-year-old German in June. The new IOC chief will inherit an assemblage of complex issues, not least how to navigate growing geo-political tensions, climate change and the gender eligibility strife, but when it comes to the IOC’s financial situation Bach leaves his successor with encouraging stability that has flourished during his 12 years at the helm.
“During my presidency, we have achieved a 60% growth in commercial revenues,” Bach said on Monday. “Already now at the beginning of this olympiad, we have secured $7.5 billion (€6.82 billion). An overall commercial revenue of $7.7 billion (€7.05 billion) and still having a number of media rights open and a number of other interesting opportunities in the pipeline.”
The figures represent a 12% increase from the previous cycle and the IOC projects a positive trajectory for revenues after the next cycle up to the Los Angeles 2028 Olympic Games and cycles after that according to Bach. “We can already now say also in the next olympiad there will be a growth in the revenues,” he said. “And it will not stop in 2028 because for the period after we have already secured $6.7 billion (€6.13 billion) and even for the period after, for 2032 to 2036, we have secured already $4 billion (€4.3 billion). I think these numbers speak for themselves.”
With $13.5 billion (€12.37 billion) in revenue already reportedly secured for the 2025-2028 and 2029-2032 cycles, revenues look set to keep on proliferating. Especially considering the setbacks from the start of the COVID-19 pandemic at the start of the last cycle. “Despite the tough economic situation, global inflation (and) economic hardship we are currently on track to distribute $4.7 million (€3.66 billion) per day in the current Olympiad,” said IOC spokesman Mark Adams in December. “That’s an increase of 12% versus the previous Olympiad and a 45% increase compared to the Olympiad of 2009 and 2012.”
The majority of IOC revenues come from television rights and sponsorship deals. 10% of which goes to running the body while the rest helps finance international federations featured at Summer and Winter Games as well as the 206 National Olympic Committees and the organisation of the Olympic Games and Youth Olympics. Some of it also goes towards funding 50% of the World Anti-Doping Agency’s budget.
