Denver, Colorado - The International Olympic Committee's executive board convenes in Denver Wednesday amid fresh controversy over a revenue-sharing agreement with the US Olympic Committee.

Senior IOC members are insisting the agreement gives the US an unfair share of television-contract and sponsorship money in a row which comes at a delicate time for Chicago's bid to stage the 2016 summer Games.

On Tuesday, the Association of Summer Olympic International Federations (ASOIF) urged the IOC to terminate its long-standing contract with the USOC and start negotiating a new one.

"The greed of this organization is unlimited. Totally unlimited," Hein Verbruggen, former head of the International Cycling Union, said of the USOC. "It infuriates everybody and especially me."

The present agreement, first signed in the late 1980s, allocates 12.75 per cent of the IOC's US TV revenues to the USOC, and 20 per cent of revenues from the IOC's top sponsorship programme.

The USOC has in the past argued that it is entitled to a larger share since US TV rights and sponsors provide the IOC with more than half of its revenues.

However in the run-up to the three-day IOC executive board meeting and SportAccord convention, key IOC members have made it clear they are running out of patience.

Denis Oswald, head of the International Rowing Federation, who was Tuesday re-elected president of the powerful ASOIF, accused the USOF of dragging its feet and not responding to proposals.

"I hope the IOC follows what we have recommended," he said. "We are angry because we have been working on this for four years and there has been absolutely no progress. We want to be treated with more respect."

More than 1,000 delegates are expected at the conference, which will feature key public presentations by the four candidates for the 2016 Olympics - Chicago, Madrid, Rio de Janeiro and Tokyo.

Chicago bid organizers have moved to distance themselves from the revenue issue, although some US media reports have said the controversy could hurt the city's 2016 chances.

Chicago 2016 chief executive CEO Pat Ryan has invited President Barack Obama to be in Copenhagen for its final presentation before the IOC general assembly in October in what would be a major boost for its chances.

The IOC will select the host city by secret ballot on October 2.

Meanwhile Bob Ctvrtlik, USOC vice-chairman for international relations, called for a "calm reasoned dialogue" and "a solution that benefits all members of the Olympic movement" on the revenues debate.

"We're looking for a long-term solution and it's probably not best to do it in an emotional or pressure environment," he said.

"It's not easy, it is complicated and I think we all need to do that in a nice calm manner." (dpa)