International Olympic Committee – IOC’s Post

The International Olympic Committee – IOC released a report about its Olympic Solidarity and support services. 📄 The report revealed spending of $112.87 million in 2022 — a significant 21.2% increase compared to 2021. 💰 The majority of the fund was spent on: 💡 $52.59 million to the continental associations of National Olympic Committees (NOCs) 💡 $57.07 million to 17 individual programs for athletes, coaches and NOCs The Olympic Scholarship program is supporting 1,146 individuals from 145 NOCs for Paris 2024. Athletes received $22.10 million, comprising direct athlete scholarships, continental athlete grants, youth athlete development, and refugee athlete support. 🎓 Coaching programs received $5.27 million and $17.37 million was allocated for staff education, sports management training, and team support. 🏋️♂️ NOCs were distributed the funds to spend on operations (32%), direct support to national federations (27%), athlete management (26%), and others (15%). 🏢 The Olympic Solidarity program's primary objective is to provide athletes with essential support, enabling them to maintain optimal training conditions in the face of various challenges. 🥇 You can access the full report here: tinyurl.com/3rv5dfwb #IOCReport #Athlete #Scholarships #OlympicValues

🎾 As the ATP World Tour Finals approaches its crucial stages of the competition, the global tennis scene is undergoing a significant transformation. In my latest blog, "The Game Changer: Saudi Arabia's Foray into International Tennis," I explore the fascinating intersection of sport, economics, and geopolitics. Uncover comprehensive insights on: • Saudi Arabia's strategic entry into international tennis and its potential to reshape the sport. • The economic implications and political dimensions of this move, with a special focus on the ramifications for the tennis calendar. • The complex interplay between financial allure and ethical concerns in the realm of professional tennis. This blog goes beyond the standard sports narrative, offering a deep dive into the dynamic interplay of economics and power in international tennis. It’s an essential read for anyone interested in the crossroads where sports, global economics, and cultural shifts converge. I’ve really appreciated the messages and feedback on the previous posts. As always, feel free to share, comment, and provide your feedback on this intriguing topic. 🙌   #TennisEconomics #GlobalSportsTrends #SaudiArabiaSports

They are in red-hot form at the moment, and proved it at the French Open Super 750 in Paris. Completely dominant in the final, Satwiksairaj Rankireddy and Chirag Shetty have now played three tournaments this year and made the finals in each of them. If Pullela Gopichand, the badminton national head coach, is to be believed, they are India’s best bet for a gold medal at the Paris 2024 Olympic Games. “If they play to potential, they have the best chance to win the gold,” said Gopi moments after they had closed out the final. “In fact, if they play one notch below their best, even then they should win the gold. They are that good.” Saying that the tournament win in Paris would help them a lot in their Olympic preparation, Satwik and Chirag were cautiously optimistic about their Olympic chances. They know that it could be the highest moment in their careers. Excerpts from the conversation: Boria: How much does it help that the ongoing tournament was at the same venue which will be used for the Olympics? Chirag: It will help a lot. You get yourself familiar with things and given that we hadn’t played in this venue, it is of serious help because we now know what to expect come the Olympics. It is always about preparation and to be the best prepared, we need to know as much of what we might encounter. Playing this tournament in the same venue and winning it is the kind of perfect preparation we need. Read: https://lnkd.in/gF2MnzvP

6 Kings 👑 The announcement of "The 6 Kings Slam" exhibition event in #riyadh potentially next October is sending shockwaves throughout the tennis world. The winner of the exhibition event is reported to walk away with a staggering $6 million, with each player looking to earn an estimated $1.5 million. 💰 To put that into context: 🎾 Wimbledon 2023 Champion: £2.35 million 🎾 Largest paycheck ever: $4.74 million, received by Novak Djokovic at the 2022 ATP Finals. Is this a LIV Tennis attempt? A recent podcast with the CEO of SRJ Sports Investments, Danny Townsend, highlighted some key areas for future investment opportunities. This goes some way to help paint a better picture of the future sporting landscape in Saudi Arabia. Rich heritage and mass participation were some of the criteria Townsend highlighted as interests for future SRJ investment. Tennis fits this bill: 🎾 87 million people globally play the sport, 🎾 50% come from either the USA (26.1%) or China (24.1%). Saudi investment in sport is not slowing down anytime soon; all roads lead towards #vision2030 and opening the kingdom to the world. As a sports fan, I am aware of the financial lure and the narrative associated with the current sporting landscape in the region. But seeing the best players compete against each other is what everyone wants to see, right? #sportbusiness #sportsaudi #sportpartnerships 📸:ArabNews

🕊️🤝 Olympic Games Fact #3 - Olympic Truce The tradition of the “Olympic Truce”, or “Ekecheiria”, was established in Ancient Greece in the ninth century BC through the signing of a treaty between three kings. Taking into account the new political reality in which sport and the Olympic Games exist, the IOC decided to revive the concept of the Olympic Truce for the Olympic Games, with a view to protecting, as far as possible, the interests of the athletes and sport in general, and to harness the power of sport to promote peace, dialogue and reconciliationmore broadly. Since 1993, the United Nations (UN) General Assembly has repeatedly expressed its support for the Olympic Truce ideal and for the IOC’s mission by adopting, every two years – one year before each edition of the Olympic Games – a resolution entitled "Building a peaceful and better world through sport and the Olympic ideal". As of 2022, the modern Olympic Truce starts one week before the main opening ceremony of the Olympic Games and ends one week after the closing ceremony of the Paralympic Games. The Truce has been violated three times in the modern history of the Games (2008, 2014 and 2022). #protocol #olympicgames #paris

A big call by the WTA? Maybe, maybe not, but given the growing relationship between WTA, ATP Tour and Public Investment Fund (PIF), the awarding of the #WTA Finals (especially given the travails of this event in recent years), and other major Tennis events to #Saudi is inevitable. Let's hope this can be used as a driver in moving women's rights forward in the Kingdom. My other concern, as mentioned in a recent post, the consolidation of #ownership, #governance and #capital of major sports such as #motorsports, #golf, #tennis, etc. are creating 'grand' global sports monopolies that have potential to create supply and pricing behaviour that will not necessarily be in the interests of those respective sports global fan bases, therefore will require regulatory scrutiny going forward. But by who? #sportseconomy #sportsbiz #Sportbusiness #privateequity #sovereignwealth #econimics #tennis FIM (Fédération Internationale de Motocyclisme) PGA TOUR Formula 1 Formula E Dorna Sports MotoGP™ Fédération Internationale de l'Automobile

🏅💰 Curious about Olympian prize money for the Paris Olympics? Check out this insightful article on Forbes to learn more about the medals and cash up for grabs in 2024: [Read more here]: https://lnkd.in/dzTspa89 #ParisOlympics #Olympics2024 🥇🇫🇷

A new version of the Olympic Charter has been issued (in force since 15 October 2023). The Olympic Charter is the codification of the fundamental principles of Olympism, rules and bye-laws adopted by the International Olympic Committee (IOC). It governs the organisation, actions and functioning of the Olympic Movement and establishes the conditions for the celebration of the Olympic Games. The Olympic Charter serves as statutes for the IOC and defines the main reciprocal rights and obligations of the three main constituents of the Olympic Movement, namely the IOC, the International Federations and the National Olympic Committees, as well as the Organising Committees for the Olympic Games, all of which are required to comply with the Olympic Charter. This latest edition has been issued with the following provisions of the previous edition of the Olympic Charter (in force as of 8 August 2021) which were modified by the 141th Session on 15 October 2023: - Additional wording has been included in the Fundamental Principles of Olympism as an overarching commitment to the respect for human rights, specifically in Fundamental Principles of Olympism 1 and 4. - New wording of Rule 40, Participation in the Olympic Games The details of the amendments can be found here https://lnkd.in/e9ZF5GuN, and find the new latest edition of the Olympic Charter on our dedicated page on the Olympic World Library here https://bit.ly/2pNxaFU.

🏅💰 Curious about Olympian prize money for the Paris Olympics? Check out this insightful article on Forbes to learn more about the medals and cash up for grabs in 2024: [Read more here]: https://lnkd.in/d73rd9Fz #ParisOlympics #Olympics2024 🥇🇫🇷

📢Saudi Arabia: The New Home of WTA Finals🎾🏆 Riyadh, the vibrant capital of Saudi Arabia, is all set to host the next three editions of the esteemed WTA Finals from 2024-2026. This follows a new agreement between the WTA and the Saudi Tennis Federation. The 2024 season-ending Finals, scheduled for November 2-9, will showcase the Top 8 singles players and doubles teams in the Race to the WTA Finals. A grand stage for the best in women’s tennis!🙌 Riyadh’s selection comes after a comprehensive evaluation process, assessing multiple bids from different regions and engaging with players. The criteria were clear: 📝 • The ability to deliver and fund a world-class event for players and fans • Support for the WTA’s ambition for significant prize money growth • The strength of their commitment to growing the WTA Finals and the sport over time The agreement promises record prize money of $15.25 million at the 2024 WTA Finals, with further increases in 2025 and 2026. This partnership also supports broader investment in the future development and growth of women’s tennis, including plans to grow the global fanbase through increased investment in marketing, digital, and fan engagement.🌐💸 Riyadh’s selection builds on the WTA’s presence of more than 20 years in the Middle East. This comes at a time of significant growth of sport in Saudi Arabia, with participation levels more than tripling since 2015 to almost 50%. The number of sporting federations has also increased threefold during this time, with the Saudi Tennis Federation being a prime example.📈💥 So, let’s gear up for some high-octane tennis action in the heart of Riyadh. Stay tuned and keep cheering!🤩🙌 #WTAfinals #Riyadh2024 #Tennis #WomenInTennis #SportGrowth #TennisInMiddleEast