Coe promises financial dividend if elected IAAF president

Published Jul. 24, 2015 5:04 p.m. ET

foxsports

LONDON (AP) Seb Coe has offered a financial dividend of $22 million if he is elected president of the International Association of Athletics Federations next month.

Coe says the money, which he called an `Olympic Dividend', will be divided up equally between the 214 member nations of the IAAF over the next four years.

Coe says the plan equates to each member receiving at least $100,000.

Speaking before London's Diamond League meeting, Coe says ''we need to release resources to allow them (member bodies) to do what we want to do.''

Coe is standing against Sergey Bubka to replace Lamine Diack as president.

The election is on Aug. 19 in Beijing.