In Geneva, the International Olympic Committee (IOC) disclosed that its president, Thomas Bach, was compensated $350,000 in 2024 as part of his income and expense package for his final full year in office.
The payment is detailed as an “indemnity” amounting to 275,000 euros ($317,000) in their annual report. This figure stands modestly against the backdrop of substantial earnings by similar sports organizations in Switzerland, which see revenues in the billions.
On the upcoming Monday, Bach’s presidency will be formally concluded, with the transition to Kirsty Coventry. She will be starting an eight-year term as the first female president of the IOC and the first president from Africa.
Despite being classified as a volunteer, Bach’s role entailed full-time executive responsibilities, which exempted him from utilizing personal funds for his official activities.
Bach’s compensation represents less than 10% of what is typically afforded to top soccer officials.
By comparison, FIFA president Gianni Infantino received $5.2 million as taxable income along with a bonus, and additional expenses, last year.
Infantino, who is also among the 109 IOC members, is eligible to claim office expenses and a daily allowance for Olympic duties.
UEFA president, Aleksander ?eferin, received about $4.3 million in taxable income in the past year, which includes a $300,000 payment from FIFA in his capacity as a vice president.
Uncertainty remains around whether Coventry, aged 41, will receive a salary as president or maintain the volunteer label. The two-time Olympic swimming champion vacated her role as Zimbabwe’s sports minister after securing the presidency in the IOC elections.
The IOC mentioned that the presidential indemnity might undergo review later in the year.
Bach’s yearly remuneration has been determined by the IOC’s ethics commission, aiming to ensure that the president does not financially profit from the position.
Before ascending to the IOC presidency in 2013, Bach, a German lawyer, accumulated experience through various consultancies and board memberships.
Back in 2020, the IOC paid Bach 225,000 euros ($259,000), which later increased to 275,000 euros ($317,000) when he was re-elected in 2021. This rate held steady throughout his second four-year term, which concludes his 12 years leading the committee.
This transparency in the disclosure of executive remuneration has become standard practice in international sports organizations as part of governance reforms, particularly in light of past corruption issues within the soccer world.