IOA Faces Financial Crisis as Olympic Grants Withheld

The Indian Olympic Association faces severe financial repercussions due to the treasurer's failure to file annual reports. This negligence results in Olympic grants being withheld, affecting athlete support. IOA officials push for administrative reforms to restore stability and meet athlete commitments amid internal governance issues highlighted by the IOC.

The Indian Olympic Association (IOA) is under financial strain due to its Treasurer, Sahdev Yadav, failing to file crucial annual financial reports. This oversight, despite repeated reminders from the International Olympic Committee (IOC), has led to the withholding of Olympic Solidarity grants, vital for athlete development and sporting initiatives.

The IOA acknowledged the significant impact on its capability to fund Indian athletes, jeopardizing their preparations for international competitions. The organization revealed these lapses have resulted in loss of essential grants, undermining efforts to support athletes, as stated in a recent press release.

Internal governance issues were further exposed, with IOA President PT Usha advocating for the ratification of Mr. Raghuram Iyer's CEO appointment and an expanded administrative team. The IOC Executive Board highlighted the persistent obstructions to this process, leading to further withholding of funds until corrective actions are undertaken. The IOA expressed commitment to immediate reforms to regain trust and stabilize financially.

(With inputs from agencies.)