AP Sources: IOC-USOC revenue deal finalized
Wednesday, May 23, 2012
QUEBEC CITY (AP) -- Two officials with knowledge of the negotiations say international and U.S. Olympic leaders have finalized a new revenue-sharing agreement that ends years of acrimony between the powerful bodies and clears the way for future American bids for the games.
The officials tell The Associated Press the deal will be signed by both sides later Thursday pending the expected approval of the International Olympic Committee executive board.
The officials spoke on condition of anonymity because the agreement is to be formally announced at a news conference by IOC President Jacques Rogge and U.S. Olympic Committee chairman Larry Probst and CEO Scott Blackmun.
The deal resolves a long-running dispute over the U.S. share of Olympic television and marketing revenues.