(Reuters) – Yesterday the International Olympic Committee unanimously approved a set of 15 reforms that it hopes will again turn the Olympics into an attractive prospect for fans, cities and sponsors through reduced cost, growing digital presence and new revenue streams.
The IOC has seen its key output – the summer and winter editions of the Olympics – lose some of its shine in recent years, failing to spark enthusiasm among potential host cities, alarmed by the size and cost of an event the world’s largest multi-sport. .
“The coronavirus crisis has fundamentally changed our world,” IOC President Thomas Bach told the organisation’s session.
“The world will never be the same again. Even after we have finally overcome the health crisis, we will face the far-reaching social, financial, economic and political consequences. ”
A previous set of reforms, ‘Agenda 2020’, was passed in 2014 but did not prevent the exodus of cities midway through bidding processes for the 2018, 2020 and 2022 editions of the Games.
The postponement of last year’s 2020 Olympics – the first to be postponed outside world war times – by a further 12 months affected the image of the Games and the IOC’s finances.
The latest reforms are based on five pillars covering digitization, sustainability development and financial resilience and according to the IOC are designed to better position the organization and Games in the global environment beyond the new coronavirus pandemic.
Among the reforms approved on the final day of the IOC virtual session are the enhancement of legacy plans for Games that would leave a greater positive impact for the local community and also consider the addition of virtual physical sports, such as still cycling, to the Olympic Program.
The IOC has for years been trying to curb the growing age profile of its Olympic fans and inject new blood into its viewership base and its involvement in virtual sports is seen as a way to do this successfully.
The IOC has already awarded the 2024 summer Games to Paris, the 2028 Olympics to Los Angeles after revising the bidding process in 2014 and a few weeks ago choosing Brisbane as the preferred guests for the 2032 edition.