The Associated Press reported Monday that the U.S. Olympic Committee has begun informing potential bid cities that there won't be an American bid for the 2020 Summer Olympics.
With the Sept. 1 deadline to submit possible bid cities approaching and still no new revenue sharing deal between the USOC and IOC, American officials worried that any bid would be rushed.
No deal means no bid. It's likely to stay that way until the two governing bodies can come to an agreement about how to split money from television and sponsors.
Breaking it down in the most rudimentary of fashions, the USOC wants a bigger cut of the pie from the IOC and the rest of the world doesn't think they deserve it. Currently, the USOC receives 12.75 percent of broadcast revenues and 16 percent of global sponsorship money. They want more.
They back up the claim by arguing that because a bulk of the IOC's television and sponsorship money comes from the U.S. then it only makes sense that the USOC get more money than the rest of the world. There's a point there; take a look at the list of major Olympic sponsors and you see American companies dominate.
The problem is leverage, namely that the USOC doesn't have much of it. NBC agreed to pay $4 billion to air four Olympics between 2014 and 2020 and did so after the IOC opted for Rio de Janeiro over Chicago. If broadcasters will pay that much to air an Olympics in Brazil, why would the IOC ever need to come back to America? If Coke will pay to sponsor an Olympics in London, what need is there to put one in New York?
The Eurocentric Olympic heads won't bend over backwards for the U.S. when U.S. companies are so eager to do the same for them.
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