Olympic Games: A billion-dollar business with political overtones

The Paris Olympics involve about 10,500 athletes from 200 countries or regions. But the Olympics are more than just fun and games.

They are a giant business that generates billions of dollars in income for the International Olympic Committee. They're also a proxy for geopolitical influence seen through the standings in the medal tables, the presence of world leaders at the opening ceremony and the national anthems serenading gold-medal winners.

Here's a look at how the IOC and the Olympics operate.

It's a business, not a charity

The International Olympic Committee is a not-for-profit, nongovernmental body based in Lausanne, Switzerland. It generates 91% of its income from selling broadcast rights (61%) and sponsorships (30%). Income for the latest four-year cycle of Winter and Summer Games ending with the Tokyo Olympics in 2021 was $7.6 billion. The IOC says it returns 90% of its income back into sports, although athletes directly get only a small slice.

There may be a move afoot