Rio to help cover deficit of local Olympic committee - mayor

By Stephen Eisenhammer RIO DE JANEIRO (Reuters) - Rio de Janeiro's City Hall will help cover the deficit of the local Olympic organising committee if necessary, Mayor Eduardo Paes said in an interview on Tuesday, going back on assurances that the committee would be entirely privately funded. The local organizer, known as Rio 2016, is a private company responsible for running the Olympics and Paralympics using funds from ticket sales, sponsorship, merchandise and broadcast proceeds passed on by the International Olympic Committee (IOC). "If it's necessary we'll help," Paes said.
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