LONDON (AP) — The IOC is offering to mediate a financial dispute between the British Olympic Association and organizers of the 2012 London Games.
The BOA claims it is still owed millions of dollars from a revenue-sharing agreement signed with the 2012 organizing committee in 2005.
International Olympic Committee spokesman Mark Adams tells The Associated Press “we have offered for both parties to be able to make their case.”
Adams says the financial agreement signed by the British bodies allows for the IOC “to take the final decision.”
The BOA said last week it was facing a budget shortfall as a result of the dispute over its share of Olympic marketing revenues.
