Next month’s Games in Rio face a drastically reduced budget after organisers admitted to severe financial difficulties caused by Brazil’s flagging economy and the sale of just 12 per cent of tickets.
“The IOC have very full coffers after London 2012. They did much better financially than they would reasonably have expected out of London. They have capacity to help,” said Sir Hugh Robertson, the former minister for sport.
“The sponsors have the capacity to help. The Brazilian government have a moral obligation to do everything possible. My guess is that if this goes wrong they will be in breach of the host nation contract so they are morally and legally obliged to do things.”
International Paralympic Committee president Sir Philip Craven has called the financial crisis threatening the Games, which are due to start on 7 September, unprecedented in the organisation’s 56-year history.
Some nations may not even send their athletes as planned due to delays in paying the teams £7m worth of travel grants.