Another hurdle cleared as court fight over Olympic cash is dropped

Dispute: Lord Coe
5 April 2012

Olympic chiefs are edging towards truce in their battle over 2012 cash.

The British Olympic Association took London 2012 to court over how any surplus from the Games is calculated.

But today the BOA dramatically suspended the legal action, signalling the end of a financial row that threatened to overshadow the Games.

The argument pitted 2012 chief Sebastian Coe against BOA chairman Colin Moynihan.

Now London 2012 organisers Locog have agreed to a request by the BOA for a new meeting, and the association in turn suspended the case lodged with the Court of Arbitration for Sport in Switzerland. BOA communications director Darryl Seibel said: "We have taken the decision to suspend the case before CAS, and have notified CAS of that.

"We have requested a meeting with Locog, they have agreed and the purpose is to continue working together towards a resolution.

"It has been our desire all along to resolve this outside the legal process and we are pleased to have this opportunity with Locog."

The move by the BOA is expected to lead to several meetings but no time scale has been set.

The BOA is due 20 per cent of any surplus after the Games but is claiming the cost of staging the Paralympics should not be taken into account when calculating that surplus.

Although the legal action has only been suspended rather than withdrawn, it now seems likely that the dispute will not end up in the court. The BOA's action has lost it much goodwill - Olympics minister Hugh Robertson last night called it "an embarrassment".

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