That's the story of a massive bribe [allegedly] paid to an individual rather than the source of the IOC's funding though. It was never likely to be directed to the part of the Olympic movement that most needed it.
Actually, I suspect that part of the justification for the IOC executives' lavish officially-sanctioned, sponsorship-funded expense accounts is to limit the ability of bidding nations to curry favour with less obviously corrupt "free hospitality" arrangements that apparently were common in the 90s. (You're less likely to feel obliged towards someone for the offer of free flights and a five star hotel for your fact finding mission if you could charge it to your Amex card anyway)
Whether it actually works is another question...
Actually, I suspect that part of the justification for the IOC executives' lavish officially-sanctioned, sponsorship-funded expense accounts is to limit the ability of bidding nations to curry favour with less obviously corrupt "free hospitality" arrangements that apparently were common in the 90s. (You're less likely to feel obliged towards someone for the offer of free flights and a five star hotel for your fact finding mission if you could charge it to your Amex card anyway) Whether it actually works is another question...