Earlier Coe had branded the BOA’s legal challenge surrounding revenues for London 2012 as “spurious” and “depressing”, while Denis Oswald, head of the International Olympic Committee's (IOC) co-ordination commission for the Games, had insisted that the Court of Arbitration for Sport (CAS) should have no legal jurisdiction in the dispute.
The BOA had taken its claim for a greater share of any surplus from the Olympics to CAS after the IOC backed the London organising committee’s (LOCOG) stance that the finances of the Paralympics should be taken into account before any revenues are distributed. However, the BOA has now asked CAS to place its action on hold describing the move as a “good faith gesture” as negotiations continue.
Admitting the episode has proved a “distraction” Coe, speaking at the SportAccord Convention, said: "The BOA has suspended its activity with CAS. They will be meeting with us at the end of the week and our door has always been open. We have helped throughout this whole process.”
In other news, the BOA has signed a Memorandum of Understanding with the Brazilian Olympic Committee (COB) identifying areas of mutual co-operation between the host National Olympic Committees for the next two Olympic Games. The agreement formalises the relationship and mutual support between the BOA and the COB, specifically for preparations for London 2012 and Rio 2016. The agreement includes a provision for extension beyond Brazil’s staging of the Olympics.
“I am delighted that we have signed a Memorandum to reflect the strong spirit of co-operation and collaboration we enjoy with our counterparts in Brazil,” said BOA chairman Colin Moynihan. “The next six years will undoubtedly be the most exciting and ambitious period in both our organisations’ histories and there will be many opportunities to share advice and best practice for the ultimate benefit of our athletes and sports.”
