AP Sources: IOC, USOC agree on proposed money deal
Tuesday, May 22, 2012
QUEBEC CITY (AP) -- Officials familiar with the negotiations say international and U.S. Olympic leaders have agreed in principle on a new revenue-sharing deal that would end years of acrimony and clear the way for America to bid again for future games.
Two senior officials tell The Associated Press the proposed agreement is contingent on the backing of the governing boards of the International Olympic Committee and U.S. Olympic Committee.
The officials spoke on condition of anonymity because the deal hasn't been announced yet.
The agreement, covering the distribution of billions of dollars in Olympic television and marketing revenues through 2040, could be formally announced during IOC executive board meetings this week in Quebec.