- Associated Press - Friday, February 7, 2014

SOCHI, Russia (AP) - The International Olympic Committee has $932 million in financial reserves after adding $31.5 million in 2013.

IOC President Thomas Bach confirmed the figure at a news conference following the body’s 3-day annual meeting.

The IOC aims to keep enough in reserve to operate for four years in the event an Olympics is canceled.

The Olympic body says more than half its reserves are invested in bonds, with “liquidity strongly reduced after investing $190 million in bonds and equities.”

The IOC has less than FIFA, which reported a $1.378 billion reserve fund last March.

Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times is switching its third-party commenting system from Disqus to Spot.IM. You will need to either create an account with Spot.im or if you wish to use your Disqus account look under the Conversation for the link "Have a Disqus Account?". Please read our Comment Policy before commenting.

 

Click to Read More and View Comments

Click to Hide