LONDON, AP:

Sebastian Coe said six countries, including the United States, would waive their share of the Olympic dividend which he would introduce if he becomes International Association of Athletics Federations (IAAF) president.

Coe announced last month, if elected, a dividend totalling US$22 million would be shared over a four-year cycle among all 214 member federations.

Coe said yesterday that the USA, Canada, France, Qatar, Britain, and Russia said they would waive their annual US$25,000 fee, which would then be invested in the growth of the sport.

USA track and field president Stephanie Hightower said, "We support this initiative and will share ours for the benefit of others within the athletics family."

Coe, a former two-time Olympic 1,500-metre champion, is competing against pole vault great Sergei Bubka of Ukraine to become president of the IAAF.

The election will be held on August 19 in Beijing ahead of the World Championships.