IOA announce increase in annual grants given to state units and National Sports Federations
With its sponsorship revenue receipt making an upward trend, Indian Olympic Association (IOA) on Thursday announced that the annual grant given to its state units and National Sports Federations will be increased next year.
New Delhi: With its sponsorship revenue receipt making an upward trend, Indian Olympic Association on Thursday announced that the annual grant given to its state units and National Sports Federations will be increased next year.
IOA Secretary General Rajeev Mehta said that the grants will be increased to allow better facilities for sports in the country.
"Our marketing agency IOS Sports & Entertainment have done a wonderful job in raising sponsorship for Rio Olympics 2016 and from the sponsorship money we are now planning to increase our grant for our state Olympic associations and National Sports Federations in the next Annual General Meeting," Mehta said in a release.
For the development and promotion of sports in India, IOA has been giving a grant of Rs 6 lakhs to each of the state Olympic Associations and National Sports Federation since last year.
Mehta also congratulated IOA President N Ramachandran on being awarded the 'OCA Award of Merit' on 25 September at Danang in Vietnam where the 5th Asian Beach Games is currently going on.
Ramachandran was conferred with the prestigious award for his outstanding contribution to sports in Asia by OCA President Sheikh Ahmed Al-Fahad Al-Ahmed Al-Sabah on 25 September at the OCA General Assembly being held in Danang.
Ramachandran had also received International Olympic Committee' 'Olympic Order' for his contributions to Olympic movement from IOC President Thomas Bach during the Rio Olympics.
Ramachandaran has thus become the only IOA President to be bestowed with two prestigious awards in close succession.
It is understood that post departure of Li Ning as the kit sponsor, the amount donated by the BCCI will certainly help in multiple ways for the contingent in covering various costs which includes training and preparation.
The journey to this year's Games has involved a long list of complications that sometimes threatened to make them the first modern Olympics cancelled in peacetime.
The 102 IOC members will now vote on the proposal at the IOC session on 21 July in Tokyo ahead of this summer's Olympic Games in the Japanese capital.