For the first time, the International Olympic Committee has released an annual report with an independently audited financial statement.
Bottom line: The Olympics make good business.
The IOC has earned a net profit of $52.7 million over the past four years, and has $76.8 million in undesignated funds at its disposal, the Price Waterhouse audit found.
The IOC’s actual earning power is far greater--$1.9 billion in television and marketing revenue since 1989. But 93% of that is given to national Olympic committees, organizers of Summer and Winter Games, and international sports federations.
The IOC’s expenditures in 1992 were $20.6 million.