The International Olympic Committee withheld the Indian organization’s portion of Olympic Solidarity grants intended for athlete development programs due to internal strife, which sparked a new verbal spat between treasurer Sahdev Yadav and the organization’s beleaguered president P T Usha. (More News About Sports)
At its Executive Board meeting on October 8, the IOC made the decision, which it sent to the Indian Olympic Association (IOA) via letter on Friday.
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With the exception of direct payments to athletes receiving Olympic scholarships, the IOC and Olympic Solidarity will not be making any payments to the IOA until further notice due to the ambiguity and need for clarification created by this situation.”
Olympic Solidarity helps all National Olympic Committees (NOCs) by donating a portion of the Olympic Games’ broadcast rights to programs aimed at developing athletes.
Scholarships are provided by Olympic Solidarity, which provides financial aid to athletes so they can train and earn spots at the Olympics.
Regarding the “unfortunate situation” in the IOA, the IOC stated that it has received the most recent correspondence from a number of parties.
As you are aware, the IOC has made a concerted effort in recent months to assist you all in coming up with positive solutions to deal with the day-to-day operations of the IOA and collaborate as a team. Regretfully, these multiple initiatives have not yet been effective.
In a news release, the IOA blamed Sahdev Yadav for the IOC’s decision, claiming that he had neglected to submit the required yearly financial reports to the international parent organization.
“Despite the IOC’s repeated reminders, the IOA Treasurer has failed to file the required annual financial reports, causing severe financial repercussions that deeply concern the IOA,” the press release stated.
“The IOA’s efforts to assist Indian athletes will suffer a significant setback as a result of this carelessness, as it will lose out on vital Olympic Solidarity grants for the previous few years.”
Over the past four years, the national apex sports body has received Rs 8.50 crore a year from the Olympic Solidarity fund, according to an IOA official.
We must first submit the annual financial reports to the IOC for the next two years before we can determine whether or not we will receive the monies,” the source told PTI.
A Special General Body meeting of the IOA was called on October 25 in response to the ongoing internal conflict between Usha and 12 members of the Executive Council about the selection of Raghuram Iyer as CEO.
In a January 5 meeting, Usha had stated that the EC had accepted Iyer’s appointment and that the only matter still pending was his pay.
Iyer’s nomination as CEO has not been approved by the 12 EC members.
In a previous CAG report, Usha had also denied Yadav’s allegations that the IOA had lost Rs 24 crore as a result of a flawed sponsorship deal with Reliance India Limited (RIL).
Usha said that all EC members received the negotiation proposal and that due process was followed when redrafting the agreement with RIL.
Yadav accused the president of selling IOA’s assets, namely the rights, without considering other options or consulting the EC, a circumstance whereby
