Indian Olympic Association (IOA) President PT Usha has given her reaction on the CAG report. He termed the report wrong and said that IOA has not suffered any loss. PT Usha accused Sahadev Yadav, who prepared it, of tarnishing her image by giving wrong information. Also warned that if anyone does this in future, she will take legal action. Let us tell you that in the CAG report, there was an allegation of causing losses to the Olympic Association. In this report it was claimed that there was something wrong in the sponsorship deal between IOA and Reliance, due to which the association suffered a loss of Rs 24 crore.

IOA responded to the allegation of losses

IOA has responded to the allegations of irregularities in the agreement made in the CAG report. Ajay Kumar Narang presented the stand on behalf of the Sangh. According to him, due to a mistake in the tender the association had to renegotiate again. Actually, there was a deal between the two parties to build India House and use the name of Reliance. But the International Olympic Committee (IOC) refused to write the name of the sponsor along with the name of the house of any country.

Let us tell you that Reliance had given Rs 35 crore in its name in 6 events. When he could not use his name as per the deal, he demanded compensation. Therefore, IOA gave him four more events as compensation. These include two Winter Olympic Games and two Youth Olympic Games. According to Narang, a deal of Rs 6 crore was not made for each event and their price is much less than the Summer Olympics.

What was the CAG report claim?

The 4 extra events given to Reliance are the main reason for the losses in the CAG report. In 2022, when two Winter Olympics and two Youth Olympics were not included in the deal between IOA and Reliance. Apart from this, there was talk between the two about paying a total price of Rs 35 crore for 6 mega events. That means IOA was to get around Rs 6 crore from Reliance for every event. Therefore, when it was given 4 extra events and did not get any money in return, CAG considered it a loss of Rs 24 crore.

According to CAG, IOA should have received a total of Rs 59 crore, whereas it got Rs 35 crore. On the other hand, the Sangh says that the price of every event has not been fixed at Rs 6 crore. According to the first agreement, Rs 8-8 crore were fixed for the 2024 and 2028 Olympics, Rs 3-3 crore for the two Asian Games and Rs 6-6 crore for the two Commonwealth Games.