The BOA, which has claimed that the running costs of the Paralympics should not be taken into account when calculating the surplus Games revenues to be awarded to the national body, had already lodged a submission with the Court of Arbitration for Sport (CAS) prior to Friday’s ruling.
“The IOC was asked to reach a final and binding decision on how the surplus of the Games should be defined,” read a statement from the IOC. “Having studied the documents and the past recent history of the Games bidding process we have decided that the word 'surplus' clearly represents the financial results from the staging of the Olympic Games and the Paralympic Games combined.”
A London 2012 spokesperson responded to the IOC’s judgement by saying: “We are pleased that the IOC has ruled on this technical point confirming we should continue to determine any surplus on the basis of combined costs and revenues from both the Olympic and Paralympic Games. Now this is settled we look forward to moving ahead together with the BOA to realise our shared vision of hosting a spectacular Olympic and Paralympic Games.”
However, the BOA insisted it would continue with its CAS appeal, saying: “Decisions made by CAS are final and binding, and CAS is the agreed forum for resolution as specified by the Olympic Charter and the key contractual agreements between the various Olympic stakeholders.”
