Coronavirus: Paralympic committee has ‘cash-flow’ problems

Andrew Parsons, the president of the International Paralympic Committee, says the postponement of Tokyo Olympics and Paralympics has led to cash-flow problems.

President Andrew Parsons (in picture) says the International Olympic Committee is 'tremendously affected' due to the coronavirus crisis

The president of the International Paralympic Committee says the body has cash-flow problems because of the Olympic and Paralympic postponement until 2021.

Andrew Parsons says about 5 per cent of spending is being cut from the IPC’s budget. A 2018 financial report showed a budget of 24 million euros ($25.7 million).

Parsons says the problem was due partly to broadcast rights holders who want to delay their payments until the product is delivered.

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Parsons says it’s not a question of losing money but rather some temporary belt tightening.

He says, "like all businesses we are tremendously affected by the COVID-19 crisis". He says he is dealing with 150 contracts that are games-related but adds "we have no plans to let any staff go at the moment".

The track world championships in Eugene, Oregon, have been rescheduled for July 15-24, 2022.

The event was pushed back a year because the Tokyo Olympics were delayed until 2021 amid the coronavirus pandemic.

 

The track worlds were originally scheduled for Aug. 6-15, 2021.

World Athletics president Sebastian Coe says 2022 will be a bonanza for athletics fans around the world with the Commonwealth Games beginning in Birmingham, England, only three days after the track worlds.

The 2022 Commonwealth Games are scheduled for July 27-August 7 and the multi-sport European Championship is currently slated for August 11-21 in Munich.

World Athletics has also postponed the bidding processes for 2023 World Athletics Series events. They will now open in November 2020.