Olympic dispute

The British Olympic Association
Chairman and Chief Executive have been suspended from London 2012 board
meetings because of an argument over funding.

Lord Moynihan and Andy Hunt have
been excluded from board meetings while they are involved in pursuing a dispute
against the London Organising Committee of the Olympic Games (LOCOG)

“This goes back to an ongoing
dispute between the British Olympic Association (BOC) and LOCOG – a very
embarrassing and high profile dispute over revenues from the London 2012 games”,
sources close to the dispute said.

“The BOC is originally
supposed to get 20 per cent of any leftover revenue from the London 2012 games
from LOCOG.

The dispute is over whether that 20
per cent comes from the Olympic Games or whether it is after the Paralympics’
Games,” she said.

The BOC want to have their 20 per cent
after the games are finished so none of the money that they could get their
hands on would be used in effect to stage the Paralympics’ Games.

This goes against an agreement that
had already been signed once London had been awarded the games.

LOCOG say that the originally
signed document should stand but the BOA say they should get 20 percent, which
would mean they could invest it in future sport development in the country.

Critics of the BOA say they have
mis-managed their finances and are in financial difficulties, which is why they
are seeking to change the agreement.

The International Olympic Committee
ruled in favour of LOCOG saying that the money should go towards the
Paralympics’ Games and then be divided as originally agreed.

But the BOA has decided to bypass
that to the Court of Arbitration for sport, to have them decide where the money
will go.

LOCOG has stressed when or if the
dispute is resolved Lord Moynihan and Mr Hunt will be allowed back into the
board meetings.