IOC reserve fund increases to $932 million

IOC reserve fund increases to $932 million

SOCHI, Russia (AP) 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 3-day annual meeting.

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

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.