The Department of Budget and Management allocated the budget, and the country’s top sports officials thought this augurs well for the possible airing of the Philippines participation in the Olympic on local television for the benefit of Filipino people.
However, whether NBN’s coverage of the Athens Games set Aug. 13-28 would push through would still depend on the result of the crucial meeting among President Arroyo, NBN-4 chairman Mia Concio and Congressman Monico Puentevella at Malacañang tomorrow.
The cash-strapped network is to present options to the President on how to solve the funding problem for the Olympic coverage.
Incidentally, the rights fee imposed by the International Olympic Committee (IOC) for the Athens Games is $600,000. Aside from that, the IOC requires NBN to settle its debt for the Sydney Games worth $1.2 million.
At the moment, the NBN chair said they have raised only $300,000 from Jemah Sports which would be the network’s marketing group for the project.
The main objective of the Malacañang meeting tomorrow is how to find sources that would provide the needed funds.
"We’re presenting ways and means to get out of the situation. After the meeting, the President will make the announcement (whether the TV coverage is on or off)," said Concio.
"She’s very supportive of this Athens Olympics. She wants it through so all efforts are being exerted so this thing happens," Concio added.
NBN needs to advance the technical fee of $225,000 today since ABU, owner of the Olympic broadcast rights in the region, will already be conducting "test feeds" Thursday. The fee is refundable in case NBN’s coverage doesn’t materialize.