Casey Wasserman, LA 2024 chairman and CEO of Wasserman Media Group, describes Los Angeles’ Olympic bid and what sets it apart.
USA TODAY Sports
RIO DE JANEIRO (AP) — The IOC has balked at helping Rio Olympic organizers pay a debt estimated at $35-40 million.
The executive board of the International Olympic Committee, meeting Sunday in Lausanne, Switzerland, said it had already contributed a “record” $1.53 billion to last year’s Olympics, and questioned giving more after meeting with organizing committee president Carlos Nuzman.
In a statement, the IOC said “more detailed information” was needed and said it “deferred any further consideration at this stage.” It added that it “has closed all its obligations with the organizing committee.”
Contractually, host cities and countries are obligated to pay Olympic debts.
In Rio’s case, if governments step in to help pay creditors, it is sure to anger police,…