Richard Carrion declares IOC bid

LONDON -- Richard Carrion of Puerto Rico has become the third member to enter the IOC presidential race, promising to use his business experience to guide the Olympic movement through the world's troubled financial times.

The 60-year-old Carrion, who chairs the IOC finance commission and negotiates lucrative television rights deals, formally declared his candidacy on Wednesday.

Carrion tells The Associated Press "I have been in positions where I have maneuvered in difficult periods and I have helped safeguard the position and financial standing of the IOC as well as the revenue of the IOC."

Carrion follows IOC vice presidents Thomas Bach of Germany and Ng Ser Miang of Singapore in officially announcing their candidacies to succeed Jacques Rogge, who steps down in September after 12 years as head of the IOC.