Olympics: IOC could survive cancelled Games: Rogge
BUENOS AIRES (AFP) - The finances of the International Olympic Committee (IOC) are healthy enough for the organisation to be able to afford the cancellation for whatever reason of an Olympic Games, outgoing president Jacques Rogge said on Sunday.
The 71-year-old Belgian - who steps down on Tuesday after a largely successful 12 year reign - told the IOC members assembled in Buenos Aires the organisation's financial reserves had grown almost ninefold since he succeeded Juan Antonio Samaranch in 2001.
"The IOC would not be able to support sport and sports structures without major financial solidity," he said.
"Since Dec 31, 2001, the Olympic Foundation, our reserve, has seen its assets grow from US$105 million to US$901 million as of Dec 31, 2012.