IOA Expresses "Deep Concern" Over Financial Repercussions Due To Withdrawal Of Olympic Solidarity Grant
The Indian Olympic Association (IOA) expressed its "deep concern" over the "severe financial repercussions" caused by the alleged failure of the IOA Treasurer, Sahdev Yadav, to file the necessary annual financial reports, despite repeated reminders from the International Olympic Committee (IOC). The Olympic Solidarity grants, a vital source of funding for athlete development programs and sports initiatives, were withheld due to non-compliance in submitting the financial reports, a responsibility solely within the purview of the treasurer. "This lapse shall significantly impact the IOA's ability to provide the necessary financial support to Indian athletes, threatening their preparation and performance for upcoming international competitions," the IOA stated in a press release on Friday.
