Bach to get 225,000 euros a year under ‘transparency’ deal
The International Olympic Committee said Thursday that it will give president Thomas Bach 225,000 euros a year to cover his costs as it revealed details of payments to top officials for the first time.
The IOC said in a statement it was making public details of proposed payments to executive board members “with a view to ensuring total transparency.”
The more than 115 full and honorary members of the board will get an annual payment of $7,000 (6,470 euros) plus meeting and travel allowances of $450 a day. Travel and accommodation costs are already paid by the IOC.
The IOC’s German president, however, is considered to be on duty all year round.
“The president will receive neither the fixed annual support nor the daily indemnity,” said the recommendations of the IOC ethics commission.
“Instead of this, to cover some of the president’s personal costs related to the execution of his function, the ethics commission is fixing a single annual fixed amount linked to inflation of 225,000 euros as indemnity.”
Commission chairman Youssoupha Ndiaye said “this procedure will lead to savings for the IOC and to transparency.”
The new payments policy was adopted by the IOC executive in February.