The paper loss has been incurred over 16 months since January 2008.

 

It represents around eight percent of the body’s overall investment pot of just over $400 million (£265 million).

 

Rogge made the disclosure in an exclusive interview with insidethegames at the IOC’s Swiss HQ on the shores of Lake Geneva.

 

The IOC President, who turned 67 on Saturday and is nearing the end of his first term in office, painted a picture of a Movement that is weathering the economic crisis reasonably well.

 

While acknowledging that conditions were difficult for federations and National Olympic Committees, preparations for forthcoming Games in Canada, the UK and Russia were progressing smoothly.

 

“I would say, in terms of the organising committees, we have no problem today,” Rogge stated.

 

On sponsorship, he revealed that the IOC’s TOP worldwide sponsorship programme has to date yielded “a little over $900 million (£596.5 million)” for the current quadrennium and said that two further companies would soon be extending their support to the four years ending in 2016.

 

The IOC had also received “expressions of interest” from broadcasters to start discussions on agreements covering the 2014 and 2016 Games in the Big Four European markets of France, Germany, Spain and the UK.

 

On doping, he said that while the IOC would fight for the principle of Whereabouts requirements imposed on athletes, it had advised the World Anti-Doping Agency to discuss modalities of the programme with federations and athletes.

 

The full interview is published in the website’s Spotlight section.