U.S. Olympic Committee sets up agency to investigate sex abuse

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The U.S. Olympic Committee has committed more than $10 million for a new independent agency that will investigate and resolve allegations of sexual abuse in Olympic sports.

At its board meeting Tuesday, the USOC voted to spend $5.2 million over the next five years and have the governing bodies of Olympic sports combine to match that amount to run the agency. The USOC will seek more funding from outside parties.

The agency will provide oversight for Olympic sports, some of which have had difficulty policing themselves.

In a letter sent to Olympic constituents, USOC CEO Scott Blackmun said it became clear to the board that there is a "critical need to address abuse in sports sooner rather than later."

Participation will be a condition of membership in the USOC.