The president of the International Paralympic Committee says the body has cash-flow problems because of the Olympic and Paralympic postponement until 2021.
Andrew Parsons says about 5% of spending is being cut from the IPC's budget. A 2018 financial report showed a budget of 24 million euros ($25.7 million).
Parsons says the problem was due partly to broadcast rights holders who want to delay their payments until the product is delivered.
Parsons says it's not a question of losing money but rather some temporary belt tightening.
He says like all businesses we are tremendously affected by the COVID-19 crisis. He says he is dealing with 150 contracts that are games-related but adds we have no plans to let any staff go at the moment. ___
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