DURBAN, South Africa (AP) — The International Olympic Committee’s financial reserves have increased to nearly $600 million.
IOC President Jacques Rogge says the reserve fund currently stands at $592 million, up from $563 million at the end of 2010. The fund has grown from $105 million in 2001.
The reserves are designed to allow the IOC to continue operating for four years in the event of an Olympics being canceled.
Rogge says Olympic television and sponsorship revenues also continue to rise.
