The Hellenic Olympic Committee made the historic decision to approve the tripartite agreement between the HOC, the International Olympic Academy and the International Olympic Committee for the renovation of the IOA premises in Ancient Olympia in order to make the IOA a global center of Olympic education. The renovation works will begin right after the Lighting Ceremony of the Olympic Flame for the Tokyo 2020 Olympic Games while the inauguration of the renovated IOA is scheduled for June 2021, in the framework of the IOC Session in Athens.

The renovation costs of $12.5 million will be covered exclusively by the International Olympic Committee. The Director of Corporate Events & Services at the IOC, Panos Tzivanidis, presented the renovation project and answered questions. Commenting this historic decision, the HOC President and IOC member Spyros Capralos said: “It is fortunate that in such difficult economic times, the International Olympic Committee will renovate these old and outdated Olympic facilities. Thus, the existing facilities will be optimized and improved. I hope that by June 2021, when the renovation is complete, the International Olympic Academy will take off and make Olympia the center of true Olympics”.

The President of the International Olympic Academy, Isidoros Kouvelos, who is in charge of the management of the IOA premises, said: “This programme is upgrading the International Olympic Academy and we are entering a new era where the Academy is not only upgraded in terms of facilities but also in terms of actions and educational programmes. This is very important and I believe that this is a formal sitting and I would like to thank both IOC President Thomas Bach and Vice President Ser Miang NG”.