Deal concludes bitter Olympic cash dispute

A deal has been struck to end the bitter cash row between the London 2012 organisers and the British Olympic Association (BOA) that threatened to sour the run-up to the Games.

By The Newsroom

Published 20th Apr 2011, 07:00 BST

In a move that has been welcomed by the International Olympic Committee (IOC), the Olympic Association has dropped its legal case against London 2012 before the Court of Arbitration for Sport (CAS) over how any surplus from the Games is calculated.

The BOA, which is due 20 per cent of the surplus after the Games, had argued the cost of staging the Paralympics should not be taken into account when calculating the surplus.

A statement on the surplus notes there is a “confirmation that monies due to both the BOA and the British Paralympic Association (BPA) after the 2012 Games will continue to be prioritised”.

Any surplus from both Games will be split 60 per cent to benefit UK sport, 20 per cent to the IOC and 20 per cent to the BOA, which was already part of the contract.