IOC / COVID-19 FINANCIAL ENVELOPE

14-May-2020 00:02:27
International Olympic Committee (IOC) President Thomas Bach announced a USD 800 million aid envelope that will cover the costs of the postponement of the Olympic Games Tokyo 2020 until the summer of 2021 and also to support International Federations (IF), National Olympic Committees (NOC) and the IOC-Recognised Organisations during the Coronavirus pandemic. IOC
Size
Format
Acquire
N/A
Hi-Res formats
DESCRIPTION
STORY: IOC / COVID-19 FINANCIAL ENVELOPE
TRT: 02:27
SOURCE: IOC
RESTRICTIONS: NONE
LANGUAGES: ENGLISH / NATS

DATELINE: 14 MAY 2020, OLYMPIC HOUSE, LAUSANNE, SWITZERLAND
SHOTLIST
1. Wide shot, exterior, Olympic House
2. Wide shot, dais
3. SOUNDBITE (English) Thomas Bach, International Olympic Committee (IOC) President:
“The IOC Executive Board has today approved an envelope of up to 800 million US dollars to address the financial consequences of this COVID-19 crisis.”
4. Wide shot, IOC Executive Board meeting in session
5. SOUNDBITE (English) Thomas Bach, International Olympic Committee (IOC) President:
“This crisis has a very severe financial effect on the world, on society, on governments and,
of course, also on the Olympic Games, the entire Olympic Movement and in particular the
IOC in this respect.”
6. Tilt down, Unity Staircase at Olympic House
7. SOUNDBITE (English) Thomas Bach, International Olympic Committee (IOC) President:
“And this amount will be covered by the IOC itself, of course including any funding that we may have to refer to from the Olympic Foundation. This USD 800 million consists of two major parts. There is one part of USD 650 million, which refers to the costs for the organisation of the postponed Olympic Games for the IOC and an aid package of up to USD 150 million for the Olympic Movement. In particular the International Federations, the National Olympic Committees and the IOC-recognised entities to enable them to continue their sports, and to continue their activities and to continue their support to their athletes.”
8. Various shots, screen details of remote meeting of the Executive Board
STORYLINE
International Olympic Committee (IOC) President Thomas Bach announced a USD 800 million aid envelope that will cover the costs of the postponement of the Olympic Games Tokyo 2020 until the summer of 2021 and also to support International Federations (IF), National Olympic Committees (NOC) and the IOC-Recognised Organisations during the Coronavirus pandemic.

SOUNDBITE (English) Thomas Bach, International Olympic Committee (IOC) President:
“The IOC Executive Board has today approved an envelope of up to 800 million US dollars to address the financial consequences of this COVID-19 crisis.”

President Bach revealed the package after chairing the remote meeting of the IOC Executive Board (EB) in Lausanne, Switzerland today (May 14).

SOUNDBITE (English) Thomas Bach, International Olympic Committee (IOC) President:
“This crisis has a very severe financial effect on the world, on society, on governments and,
of course, also on the Olympic Games, the entire Olympic Movement and in particular the
IOC in this respect.”

The envelope is in two parts - USD 650 million will cover the costs of the 12-month postponement of Tokyo 2020, and the remaining USD 150 million will be allocated to IFs, NOCs and approved athletes who have seen their cash flow dry up following the global suspension of sport.

SOUNDBITE (English) Thomas Bach, International Olympic Committee (IOC) President:
“And this amount will be covered by the IOC itself, of course including any funding that we may have to refer to from the Olympic Foundation. This USD 800 million consists of two major parts. There is one part of USD 650 million, which refers to the costs for the organisation of the postponed Olympic Games for the IOC and an aid package of up to USD 150 million for the Olympic Movement. In particular the International Federations, the National Olympic Committees and the IOC-recognised entities to enable them to continue their sports, and to continue their activities and to continue their support to their athletes.”

President Bach confirmed that on Saturday, (16 May), the IOC will extend its partnership
with the World Health Organization, saying the current global situation highlighted the need
for sport to receive government funding around the world.
Category
Topical Subjects
Personal Subjects
Source
Alternate Title
unifeed200514g