IOC to intervene as 2012 Olympic money row escalates

The IOC have been asked to step in to settle a row over money between the British Olympic Association and London 2012 organisers.

The BOA claim they were short-changed when a deal over sponsorship income was done with the London organising committee in 2005, and they are now facing a funding gap of up to £10million ahead of the 2012 Games.

Now the IOC have been brought in to deal with the row.

Sir Craig Reedie, one of the three British IOC members, told Press Association Sport: "I am aware that the IOC have been asked to mediate. We await the IOC's decision with interest."

According to the BBC, BOA chairman Lord Moynihan is threatening to take London 2012 to the Court of Arbitration for Sport (CAS) in Lausanne if the ruling is not in their favour.

Critics of the BOA say they have embarked on an unnecessary spending spree, with accounts showing their overall salary bill has more than doubled from £2million to £5million since 2005.