BUSINESS
02/07/2014 08:00 EST | Updated 04/09/2014 05:59 EDT

IOC Financial Reserves Pegged At $932 Million

ASSOCIATED PRESS
The gold medal is displayed for journalists during a presentation of Sochi 2014 Olympic medals at the SportAccord International Convention in St. Petersburg, Russia, Thursday, May 30, 2013. (AP Photo/Dmitry Lovetsky)
SOCHI, Russia - The International Olympic Committee has $932 million in financial reserves after adding $31.5 million in 2013.

IOC President Thomas Bach confirmed the figure at a news conference following the body's three-day annual meeting.

The IOC aims to keep enough in reserve to operate for four years in the event an Olympics is cancelled.

The Olympic body says more than half its reserves are invested in bonds, with "liquidity strongly reduced after investing $190 million in bonds and equities."

The IOC has less than FIFA, which reported a $1.378 billion reserve fund last March.

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