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Audit Shows IOC Made $52.7 Million From Olympics in Last Four Years

September 22, 1993|Associated Press

MONTE CARLO — For the first time, the International Olympic Committee has released an annual report with an independently audited financial statement.

Bottom line: The Olympics make good business.

The IOC has earned a net profit of $52.7 million over the past four years, and has $76.8 million in undesignated funds at its disposal, the Price Waterhouse audit found.

The IOC's actual earning power is far greater--$1.9 billion in television and marketing revenue since 1989. But 93% of that is given to national Olympic committees, organizers of Summer and Winter Games, and international sports federations.

The IOC's expenditures in 1992 were $20.6 million.

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