Olympic leader Bach's $350,000 pay package in 2024 trails far behind soccer's elected leaders
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GENEVA (AP) — The International Olympic Committee paid its president Thomas Bach $350,000 in income and expenses in 2024, his final full year in office.
The sum included a salary-like payment — or 'indemnity' in Olympic language — of 275,000 euros ($317,000), according to its annual report Friday. That is a relatively small figure compared to soccer bodies that, like the IOC, are based in Switzerland and count annual revenue in billions.
Bach on Monday will formally hand over to president-elect Kirsty Coventry , who will start an eight-year initial term as the Olympic body's first female leader, and first from Africa.
The IOC has classed the 71-year-old Bach as a volunteer on a full-time executive mission who 'should not have to finance activities related to his function from his personal savings.'
Bach's earnings were less than 10% of what soccer gives its top elected officials.
FIFA paid its president Gianni Infantino $5.2 million in taxable salary and bonus last year, plus other expenses. He is also among the 109 IOC members and can claim $7,000 each year for office costs and $450 daily allowance when on Olympic business.
UEFA president Aleksander Čeferin received almost $4.3 million in taxable income last year, including $300,000 from FIFA as one of its vice presidents.
It is unclear if the 41-year-old Coventry will be a salaried president of the IOC instead of officially a volunteer. The two-time Olympic champion in swimming left her job as sports minister of Zimbabwe after winning the seven-candidate IOC election in March.
The presidential indemnity likely will be reviewed later this year, the IOC said Friday.
Bach's annual payment has been decided by the IOC's ethics commission on the stated principle 'the president should not financially benefit from his position.'
The German lawyer held a series of business consultancies and board of director seats before being elected in 2013 to lead the IOC.
The IOC paid Bach 225,000 euros ($259,000) in 2020. It rose to 275,000 euros ($317,000) in the year of his re-election, 2021, then was frozen for the rest of his second term of four years until reaching the maximum 12 years in office.
International sports bodies have typically published details of leadership pay as part of governance reforms, particularly after corruption scandals in soccer.
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AP Olympics: https://apnews.com/hub/2024-paris-olympic-games
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