IOC may end revenue-sharing deal with USOC

March 18, 2009 9:26:51 AM PDT
An ongoing money dispute could lead to more trouble for Chicago's 2016 Olympics bid. According to an AP report, a senior Olympic official told The Associated Press the International Olympic Committee (IOC) could end its revenue-sharing deal with the United States Olympic Committee (USOC) unless there's an agreement to revise the American plan.

That could mean trouble for Chicago 2016.

IOC member Denis Oswald said the USOC must make a concession on the contract next week during a meeting in Denver.

Under the open-ended contract, the USOC receives nearly 13 percent of Olympic television rights fees and 20 percent of global marketing revenues -- as much as other national bodies combined.

Oswald says if the U.S. shows no sign of agreeing to a new formula, he will recommend terminating the contract and renegotiating a new deal.

The Associated Press contributed to this report. All rights reserved.