Olympic Rings Compnsation

Meeting: 
MQT on 2006-11-18
Session date: 
November 18, 2006
Reference: 
2006/2208
Question By: 
Dee Doocey
Organisation: 
Liberal Democrats
Asked Of: 
The Mayor

Question

It has been reported that LOCOG is compensating the British Olympic Association by £4.5 million a year as a result of any new sponsors for the BOA not being able to use Olympic imagery. Is this correct, and from what budget stream is this coming?

Answer

Answer for Olympic Rings Compnsation

Answer for Olympic Rings Compnsation

Answered By: 
The Mayor

As a condition of the Bid process an agreement was made for the Organising Committee to acquire the BOA's rights to the Olympic imagery and words in the United Kingdom. LOCOG is now the proprietor of Olympic intellectual property in the UK, including Team GB. Funding in compensation for the transfer of rights comes from LOCOG's privately financed budget and the International Olympic Committee. The amounts that are being paid to the BOA in return for their rights are commercially confidential.