Following friendly overtures at the SportAccord conference held in London recently, the BOA dropped its legal action against LOCOG yesterday and the organisations have now shaken hands over clarified financial arrangements.
Interestingly, one concession LOCOG made was agreeing to waive royalty rights over two items of official merchandise that may be sold to directly benefit Team GB. Team Canada's idea to sell red mittens at Vancouver 2010 was inspired. The mittens were a hit with fans and millions sold at $10 a pair during the Games, even provoking a red mitten flashmob.
Will the BOA hit upon something equally iconic and 'must have'? The London 2012 Shop is already flooded with lurid logo-ized products (and a timely glut of Union Jack stuff, hmmmm). A keen and zeitgeisty eye needs to spot a useful gap in the vast merch market if our Olympians are going to capitalise on this much needed money making opportunity.
Remember, the deadline to apply for your Olympic tickets is 11.59pm on 26 April 2011.
Image of the Olympic Clock by McTumshie via the Londonist Flickrpool