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Finance

How Is the Olympics Funded? Info on Budgets and Costs of Olympic Games

In an explainer on the Olympics.com website, the IOC explains that the “basic principles of financing the Games … can be broken down into two distinct budgets,” the Organising Committee for the Olympic Games (OCOG) Budget and the Non-OCOG Budget.

The OCOG Budget comes primarily from the IOC, which earns money from The Olympic Partner program, the sale of broadcast rights for the Olympics, and other revenue sources. (The broadcast revenue has skyrocketed over the years, going from $1.3 billion in 2000 to $2.6 billion 12 years later, according to CFR data.)

The IOC also “provides the possibility to the Games organizers to commercialize the Olympic rights in their territory as well as to manage the ticketing of the event,” the committee adds.

View more information: https://marketrealist.com/p/how-is-the-olympics-funded/

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