International Olympic Committee
July 6, 2022
Committee (European Portuguese) or Committee (Brazilian Portuguese) International Olympic (IOC) is a non-governmental organization. It was created on June 23, 1894, on the initiative of Pierre de Coubertin, with the aim of reinstituting the Olympic Games held in ancient Greece and organizing and promoting them every four years. The IOC is financed through advertising and marketing of Games commemorative items and through the sale of broadcasting rights to Olympic events. In 1896, after a pause of 1,500 years, the first Olympic Games of the modern era were held, which Baron de Coubertin hoped would help foster international communication and peace. Currently, the purpose of the IOC is to administer and legislate about the Games, and also to serve as the legal entity that owns the copyright, trademarks and other property related to the Olympic Games. For example, the Olympic Flag, the Olympic Motto and the Olympic Anthem are owned and administered by the IOC. Additionally, there are other organisations, namely the National Olympic Committees and the International Sports Federations, which are controlled by the IOC and which are collectively referred to as the "Olympic Movement". Cities wishing to host the Summer or Winter Olympic Games must submit a candidacy proposal to their National Olympic Committees, which must or may not authorize their candidacy. These must deliver the organization proposal to the IOC, which has the final word on where the Games will be held, through the vote of delegates representing the majority of member countries. By law, all IOC members must retire upon reaching the age of 81.