ST. PETERSBURG, Russia (AP) — Swimming and gymnastics are the big winners in a new revenue-sharing ranking of Olympic sports.
The IOC executive board promoted the international swimming and gymnastics federations into the top tier along with track and field.
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Previously, the International Association of Athletics Federations was alone in the highest group and received the biggest share of the hundreds of millions of dollars in Olympic revenues.
Under a new formula announced Wednesday, swimming body FINA and gymnastics federation FIG join the IAAF in the first of five groups comprising the 28 sports. One of the big losers was modern pentathlon, which dropped into a new bottom rung with incoming sports golf and rugby.
It’s now up to the summer sports federations to determine how the money will be distributed from the 2016 Olympics.
