adminThe International Olympic Committee has published its financial payments policy for the first time yesterday in an effort to improve transparency.
In an unprecedented move for an international sports organisation, the IOC said it had approved the Ethics Commission’s proposal and demand to make it public as part of its Agenda 2020 reforms process.
The announcement will no doubt pile pressure on other sports organisations, including world soccer’s governing body Fifa, which has staunchly refused to publish the salaries and bonuses of top staff including under-fire President Sepp Blatter, also an IOC member.
The IOC Ethics Commission, which had urged the IOC to immediately publish its approved compensation policy, also called on other Olympic sports organisations to follow suit.
Under the policy, the IOC president, who does not get a salary, will be compensated with a flat annual amount of 225,000 euros to cover his expenses.
IOC Executive Board members and commission heads will receive $900 per day with simple IOC members $450 a day. An annual administrative support of $7,000 is added for each member, while travel and accommodation is covered by the IOC.
The IOC Ethics Commission chairman, in a separate letter to all IOC members, said the new indemnities policy would further increase transparency.
The IOC’s Agenda 2020 reforms, approved back in December, aim to make the Olympics more attractive, reduce cost of the Games, change the sports programme more quickly to keep the event relevant to younger audiences while also making the IOC more transparent. — Reuters
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