BOA and Locog agree to new talks over 2012 finance row

 

Click to play

Coe welcomes fresh talks with BOA

The British Olympic Association and the London 2012 organising committee have agreed to fresh talks aimed at settling their bitter financial row.

The BOA has asked the Court of Arbitration for Sport to indefinitely suspend its request to rule on the division of any surplus from 2012.
The BBC has learned that the BOA has also requested a meeting with Locog.
Despite claims that they wouldn't back down, Locog have agreed to the talks.
Lord Coe, chair of Locog (London Organising Committee of the Olympic Games), told the BBC "Clearly it is sensible not to have a dispute running on."
"In fairness of course we don't see this as a dispute any longer because the International Olympic Committee have made their judgement, the Government has made its judgement, the Mayor's office has made it's judgement and our position at Locog is really clear - that we are running hard to maintain a balanced budget but beyond that I'm not going to speculate. I will wait to see what the meeting holds at the end of the week."
A spokesman for the BOA said: "We have requested a meeting with Locog, which they have agreed to. The purpose of that meeting is to continue working towards a resolution."
Although the BOA has not withdrawn its case with Cas, it has not set a time limit on the talks.
The surprise move comes after both sides appeared to become increasingly entrenched in a row that has overshadowed London's otherwise successful preparations for next summer's Games.
Only last week, the government refused to mediate in the dispute but both sides now want to see if a deal can be reached to draw a line under the affair.
In March, the International Olympic Committee ruled in favour of Locog, rejecting the BOA's argument that it should receive its share of any cash surplus generated by the London 2012 Games before the Paralympics.
The BOA, which has financial problems, is still working to raise money to support Team GB during the 2012 Games.
It opted to take its case to Cas, which is the last avenue of appeal in sporting disputes, although the IOC has claimed it should have the final say in Olympic matters.