The International Olympic Committee (IOC) is prepared to postpone the bidding on lucrative US broadcast rights until after next year's selection of the 2016 host city due to the economic downturn.
Speaking to reporters, IOC finance commission chairman Richard Carrion said: "In this economic climate, I don't see us moving forward quickly because all the prognostications we are seeing are that advertising will be down. I doubt very much this is a good time to begin talking. ... I don't see us being very active on this right now."
Carrion added that it was possible that the IOC will hold off until after the October 2, 2009, vote in Copenhagen, Denmark, on the host city for the 2016 Summer Games. The four candidates are Chicago, Madrid, Rio de Janeiro, and Tokyo.
Traditionally, the IOC has negotiated the rights before the host city is known, but the recession has changed seen American networks unwilling to commit to the process until the host city has been confirmed. Carrion said he has spoken only informally with US networks, including NBC, ABC-ESPN and Fox, about the next round of bidding.
The IOC will be selling the broadcast rights in a package for both the 2014 Winter Games in Sochi, Russia, and the 2016 Olympics.
Carrion said the financial crisis has not seriously affected the IOC because most future sponsorship and broadcasting deals were already signed. "If you look, our sources of revenues are pretty much in place. The financial situation is solid and that gives us the ability to wait it out".
