CAG report claims; Reliance was supposed to give 59 crores, but only 35 crores were taken
The Indian Olympic Association (IOC) has been accused of causing its own loss. The allegation is based on the CAG report. The IOC had a sponsorship deal with Reliance for 10 mega events to be held from 2022 to 2030. These mega events include two Summer Olympics (2024 and 2028), two Asian Games (2022 and 2026), two Commonwealth Games (2022 and 2026) as well as two Winter Olympics (2026 and 2030) and two Youth Olympics (2026 and 2030). According to the CAG, the IOC should have received 59 crores for the entire deal, but it received only 35 crores. According to sources in the Olympic Association, President PT Usha can respond to these allegations on October 8. The CAG report says that when the deal with Reliance was finalized in 2022, it did not include two Winter Olympics and two Youth Olympics. Then the IOC finalized the deal for Rs 35 crore for six mega events. An amount of about six crore rupees was fixed for one event.
In 2023, the deal was extended for four more events, but no additional amount was taken for this. Six crore rupees more should received for each of these.
24 crore rupees more should have been received, but this did not happen. The IOC took only 35 crore rupees instead of 59. On this matter, CAG has sought a reply from IOC President PT Usha.
On the other hand, IOC official Ajay Kumar Narang has put forth the association’s side on this matter. He said that due to a mistake in the tender, the agreement had to be renegotiated. It was written in the agreement that the main sponsor would be able to build India House during the Olympics and name it after himself. That is, India House would have been named Reliance India House, but later the International Olympic Committee changed the rules. Using the name of the sponsor with the name of a country’s house was banned. Reliance had signed an agreement for Rs 35 crore for six events so that it could use its name along with India House. When this right was taken away, Reliance asked for compensation. Under this compensation, it was given four more events extra. These include two Winter Olympic Games and two Youth Olympic Games.
