Report: Huge Economic Hit if Olympic Games Canceled

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A new report shows evidence that canceling the Olympic Games could have major economic implications for the sports industry in general.

Research from GlobalData reveals that in the cycle between 2017-2020 the IOC generated $1.6 billion in revenue through its Olympic Partner program (TOP) while broadcast revenues came in at $4.5 billion. Domestic partners of Tokyo’s local organizing committee have generated a further $3.3 billion in revenue over the same period.

“The Olympic Games is the pinnacle of sporting achievement for many athletes, but the event is even more crucial in terms of supporting the International Federations whose sports make up the Games,” said Conrad Wiacek, head of Sport Analysis for GlobalData.”For at least half of the 28 federations whose sports make up the Olympic program, almost all of their funding will come from the Olympic cycle. Based on annual reports, some sports receive up to 95 percent of their funding from the Olympic Games with the likes of Gymnastics, Boxing and Modern Pentathlon all seeing a significant portion of their revenue coming post-Olympics.”

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