In relation to the International Olympic Committee (IOC) largesse proposal for its member associations, disclosed by officials of the body, the Nigeria Olympic Committee (NOC) will meet tomorrow to decide on the modalities for the disbursement of the $800 million palliatives.
The IOC recently approved a financial envelope of up to $800 million to address the COVID-19 crisis, with about $100 million of the sum going to national committees, it will cost up to $800 million for its part of the responsibilities for the organization of the Olympic Games Tokyo 2020, its own extended operations and the support for the wider Olympic Movement as this amount will be covered by the IOC itself, including any funding from the Olympic Foundation.
“The IOC’s financial aid or loan to various international sports federations to cushion the effects of the COVID-19 has been lingering. I cannot say anything on it until the NOC meets on Wednesday (today) to deliberate on it and other issues concerning the Olympics, It is only after the meeting that we can tell you and the public where we stand on the issues. For now, there is nothing NOC can confirm on the palliative,” NOC’s Media Officer, Phemmy Adetula explained.
The IOC earlier posited that the $100 million to the national committees should help settle half of the costs incurred when the 2020 Tokyo Olympics were postponed to 2021.
