Olympics: IOC chief Bach to get $330k a year under 'transparency' deal

International Olympic Committee (IOC) president Thomas Bach is set to receive 225,000 euros (S$330,500) a year to cover his costs, said the IOC in a statement where it revealed a move to make public details of proposed payments to executive board mem
International Olympic Committee (IOC) president Thomas Bach is set to receive 225,000 euros (S$330,500) a year to cover his costs, said the IOC in a statement where it revealed a move to make public details of proposed payments to executive board members "with a view to ensuring total transparency". -- PHOTO: AFP

LAUSANNE (AFP) - The International Olympic Committee (IOC) said on Thursday that it will give president Thomas Bach 225,000 euros (S$330,500) a year to cover his costs as it revealed details of payments to top officials for the first time.

The organisation said in a statement it was making public details of proposed payments to executive board members "with a view to ensuring total transparency".

The more than 115 full and honorary members of the board will get an annual payment of US$7,000 (S$9,550) plus meeting and travel allowances of US$450 a day. Travel and accommodation costs are already paid by the IOC.

The IOC's German president, however, is considered to be on duty all year round.

"The president will receive neither the fixed annual support nor the daily indemnity," said the recommendations of the IOC ethics commission.

"Instead of this, to cover some of the president's personal costs related to the execution of his function, the ethics commission is fixing a single annual fixed amount linked to inflation of 225,000 euros as indemnity."

Commission chairman Youssoupha Ndiaye said "this procedure will lead to savings for the IOC and to transparency". The new payments policy was adopted by the IOC executive in February.