International and U.S. Olympic Committee leaders finalized a new revenue-sharing agreement on Thursday that ends years of acrimony between the powerful bodies and clears the way for future American bids for the games.
After years of protracted negotiations, the two sides met in Quebec City and signed a long-term agreement that will reduce the USOC’s future percentage share of TV and marketing revenues — a breakthrough that helps bring the U.S. back into the international fold.
“This is a very happy moment,” IOC President Jacques Rogge said. “This agreement will definitely strengthen both sides.”
The conclusion of the revenue-sharing is expected to lead the USOC to begin a formal process for considering American bids for future Games.
Gov. John Hickenlooper and Denver Mayor Michael Hancock in December formed an exploratory committee of business and civic leaders to consider the potential benefits, ramifications — and costs — involved in bidding for the 2022 Winter Olympics. Among its tasks are determining not only the costs to bid for the Games but to assess potential venues for the various competitions — including those that would have to be built.
In a joint statement Thursday, Hickenlooper and Hancock said they were “very pleased” by the decision.
” We remain interested in and continue to explore all of the issues relevant to Denver potentially submitting a bid if and when the time is right,” the statement said.
USOC chairman Larry Probst called it a “terrific arrangement for both the IOC and the USOC, a great outcome for the Olympic movement around the world.”
The deal, which runs until 2040, resolves the long-running dispute over the U.S. share of Olympic television and sponsorship revenues that soured relations and undermined recent American bids for the games.
With a deal in place, the U.S. will consider whether to bid for the 2022 Winter Games or 2024 Summer Olympics.
In addition to Denver, cities that have expressed early interest in bidding for the 2022 Winter Olympics include Salt Lake City; Reno-Lake Tahoe, Nev.; and Bozeman, Mont. Dallas is among those interested in the 2024 Summer Olympics, while New York, Chicago and Los Angeles could also be potential candidates.
“We hope this has removed a roadblock from a successful bid for the United States,” Probst said, adding that the USOC would hold a board meeting in San Francisco next month to consider how to move forward.
CEO Scott Blackmun added, “I think our strategy is to develop a strategy at this point. We really haven’t given it much thought, as we have said in our prior discussions with (media).”
Lingering international resentment over the U.S. share of revenues was a key factor in New York’s failed bid for the 2012 Olympics and Chicago’s stinging first-round elimination in the vote for the 2016 Games.
The U.S. last hosted the Summer Olympics in 1996 in Atlanta and last staged the Winter Games in 2002 in Salt Lake City.
“We’re now where we ought to be,” said U.S. IOC member Anita DeFrantz, who also sits on the USOC board. “In my opinion, there is no longer any barrier (to a bid) or bad will.”
The Denver Post contributed to this report
