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IOC approves $800m to address COVID-19 crisis

first_imgInternational Olympic Committee (IOC) anticipates that it will have to bear costs of up to USD 800 million for its part of the responsibilities for the organisation of the Olympic Games Tokyo 2020, its own extended operations and the support for the wider Olympic Movement. Loading… Additionally, the Swiss Federal Council agreed yesterday to offer support to the Switzerland-based IFs in a joint programme with the IOC. ‘The IOC thanks the Swiss Federal Council for the offer to support the International Federations jointly with the IOC. We are fully committed to successfully delivering this International Sports Federation support programme in cooperation with the Swiss authorities. This initiative is a great acknowledgement of the importance of the International Sports Federations and sport,’ IOC President Thomas Bach commented. It was previously announced that Olympic Solidarity has increased the budget for its athlete programmes by USD 15 million, which covers scholarships for over 1,600 athletes from 185 NOCs and the IOC Refugee Olympic Team. Olympic Solidarity had also increased the budget for IOC subsidies for the participation of NOCs in the Olympic Games by USD 10.3 million. This additional budget will allow Olympic Solidarity to make available additional funds relating to exceptional Games-related costs incurred by NOCs due to the postponement of the Olympic Games Tokyo 2020. President Bach said: ‘The Olympic Movement is facing an unprecedented challenge. The IOC has to organise postponed Olympic Games for the first time ever, and has to help its stakeholders come through this global crisis. read also:IOC to discuss providing financial support to international federations This new situation will need all our solidarity, creativity, determination and flexibility. We shall all need to make sacrifices and compromises. Extraordinary circumstances call for extraordinary measures. This situation requires every one of us to do our part, and this applies to all of us, including the IOC. With today’s financial plans, we are addressing these needs.’ FacebookTwitterWhatsAppEmail分享 This amount will be covered by the IOC itself, including any funding from the Olympic Foundation. This number includes the cost for the organisation of the postponed Games of up to USD 650 million for the IOC, and an aid package of up to USD 150 million for the Olympic Movement, including the International Federations (IFs), the National Olympic Committees (NOCs) and the IOC-Recognised Organisations, to enable them to continue their sports, their activities and their support to their athletes. Today, the IOC Executive Board (EB) approved this financial plan. At the moment, the IOC is undergoing a deep analysis process to evaluate and assess the impact of the COVID-19 crisis on all of its operations. This is a complex exercise because of the constantly changing factors which have to be considered in the current environment. The IOC, as the leader of the Olympic Movement, is playing a critical role in supporting its stakeholders during the COVID-19 outbreak. To stand in solidarity with the Olympic Movement, it has also put together an aid package of up to USD 150 million, from which the IFs, NOCs and IOC-Recognised Organisations can benefit. This funding is meant to help them continue their mission to develop their sports, prepare for the Olympic Games and support their athletes. The IOC and its stakeholders are still going through the analysis process to assess the needs on a case-by-case basis. Promoted ContentYou’ve Only Seen Such Colorful Hairdos In A Handful Of Anime8 Superfoods For Growing Hair Back And Stimulating Its Growth7 Truly Incredible Facts About Black Holes7 Netflix Shows Cancelled Because They Don’t Get The Ratings8 Things That Will Happen If An Asteroid Hits EarthWho Is The Most Powerful Woman On Earth?How They Made Little Simba Look So Lifelike in ‘The Lion King’Underappreciated Movies You Missed In 2019Boys Deserve More Than Action-Hero Role ModelsCouples Who Celebrated Their Union In A Unique, Unforgettable WayBest Car Manufacturers In The WorldThe Very Last Bitcoin Will Be Mined Around 2140. Read Morelast_img read more

Earners Alliance signs exclusive B2B deal with Lotto Warehouse

first_img Earners Alliance Ltd has signed an exclusive deal with lottery betting B2B provider Lotto Warehouse. The Malta-headquartered solution firm owns a number of leading gaming operations, including Casino Wilds, Betify, Loco Joker, Winner Resort and Slot Champ. They also specialise in white label solutions, offering their services to clients from across the globe. Lotto Warehouse CEO Thomas Biro says the new deal reveals how his company is now recognised as a leader in the lottery betting B2B market. Lottery letting has evolved over the course of the last 18 months or so from being a new and upcoming vertical to one that’s increasingly viewed as an essential component of any well-rounded igaming offering.“We are in an excellent position to offer an easy to integrate solution, creating margins that surpass those available in any other vertical. “Operators and other B2B providers are looking to us because they know that as a subsidiary of NYSE listed 500.com we are strong and reliable, while we also have serious expertise having powered lottery betting leader Multilotto’s platform for years.” Lotto Warehouse is the only provider to have both UK Gambling Commission and Malta Gaming Authority Class 4 licences. The company offers operators the chance to add a catalogue of the world’s biggest lottery betting products to their platforms, with all higher tier payouts protected by a jackpot coverage model. Submit Successful summer leaves Leadstar positive over industry’s recovery August 18, 2020 Share Gambling.com maintains momentum against COVID-19 impacts August 19, 2020 Share Related Articles UKGC data reveals ‘notable recovery’ for sports betting July 6, 2020 StumbleUponlast_img read more

Drogba gets ‘Spirit of the Game Award’ after donating all commercial earnings to charity

first_imgChelsea forward Didier Drogba has been commended for his charity work in Africa by Barclays.The 37 year-old striker, who scored in Chelsea’s 3-1 win against Leicester on Wednesday, won the Spirit of the Game Award for his tireless charity work off the pitch.Speaking in a video released by the Premier League sponsor, Drogba commented: “I come from a poor family where I played football in the streets with my friends with no shoes, there was no grass but we still enjoyed it. There is nothing better than when you see a kid with a smile on his face and that is why I’m trying to help. I want to do a lot of things in Africa, I want to give people the chance to dream, and it is easier to dream when you are in good health and happy.”Drogba recently helped to raise £400,000 for the Didier Drogba Foundation at a charity ball attended by fellow footballers including; Petr Cech, Eden Hazard, Bransilav Ivanovic, Gary Cahill, Juan Cuadrado, Nemanja Matic, Thierry Henry, Louis Saha, Edgar Davids, Jermaine Defoe and John Terry.The money will be used to complete the medical clinic in Abidjan and help finance mobile clinics that will travel outside of the capital to those who are either to sick or poor to make the journey to the centre.—last_img read more