Olympic Games Baron Pierre de Coubertin founded the International Olympic Committee (IOC) in 1894, leading to the first modern Games in Athens in 1896. The IOC is the governing body of the Olympic Movement, with the Olympic Charter defining its structure and authority. The evolution of the Olympic Movement during the 20th and 21st centuries has resulted in several changes to the Olympic Games. Some of these adjustments include the creation of the Winter Olympic Games for snow and ice sports, the Paralympic Games for athletes with a disability, the Youth Olympic Games for athletes aged 14 to 18, the five Continental
London Organising Committee of the Olympic and Paralympic Games not responsible for building permanent venues, reported spent £2.38 billion since winning the bid in 2005 and generated £2.41 billion. On 30 May 2013 it handed back to the government, Britain's Olympic committee and other beneficiaries a surplus of £30 million from the 2012 Games. The British Olympic Association received £5.3 million, the British Paralympic Association £2.6 million, and £20 million was returned to the Department for Culture, Media and Sport. On 6 July 2005 the International Olympic Committee (IOC) chose London as the host city for the 2012 Olympic Games. After the success of the London bid, LOCOG was