IOA expresses concern after incurring financial losses allegedly due to treasurer's non-compliance

The IOA has been facing several internal conflicts over the past few months.

The Indian Olympic Association (IOA) have shared details over the severe financial repercussions caused by the failure of the IOA Treasurer to file the necessary annual financial reports, despite repeated reminders from the International Olympic Committee (IOC). The negligence resulted in losing out on critical Olympic Solidarity grants for the past few years, dealing a major blow to the organisation’s efforts to support Indian athletes. 

The Olympic Solidarity grants, a vital source of funding for athlete development programs and sports initiatives, were withheld due to non-compliance in submitting the financial reports, a responsibility solely within the purview of the Treasurer. This lapse has significantly impacted the IOA’s ability to provide the necessary financial support to Indian athletes, threatening their preparation and performance for upcoming international competitions. 

The IOA reported that the President of the organisation, Dr. PT Usha, had been persistently seeking the Executive Committee (EC) ratification of appointment of Mr Raghuram lyer, Chief Executive Officer (CEO) since January 2024 and an expansion of the administrative staff to enhance the organization’s accountability, transparency, and operational efficiency.

The recent failures in financial management further highlighted the need for these critical reforms. Dr. Usha has reiterated that a robust administrative framework is essential to ensure that the organisation fulfils its duties to the athletes, stakeholders, and the wider sporting community. 

Also Read: IOA president PT Usha accuses Kalyan Chaubey of impersonating as acting CEO, issuing unauthorized agenda

IOC Executive Board Decision on Olympic Solidarity Grants 

In another development, the IOC Executive Board, during its meeting on 8th October 2024, expressed grave concerns over the ongoing internal governance issues within the IOA. Specifically, the IOC EB noted the persistent obstruction to the ratification of the CEO’s appointment, an action which has hindered the IOA’s ability to function effectively. 

In view of these developments, the IOC Executive Board has decided that, until further review, the Olympic Solidarity grants to the organisation will be withheld from disbursement. The IOC has also taken steps to ensure that the athletes selected for Olympic Solidarity scholarships will be paid directly, ensuring that their preparations for the future International Events are not disrupted by the internal failings of the IOA.

The IOA stated that it is committed to taking immediate corrective actions to regain the trust of the IOC and restore its financial stability. PT Usha called upon all members of the General Assembly to prioritize the interests of Indian athletes and support the urgent reforms needed to ensure that such lapses do not occur in the future.

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