The Trinidad and Tobago Olympic Committee (TTOC) is converting its #10Golds2024 athlete welfare and preparation fund into its Team TTO Foundation as part of efforts to better financially support athletes.

The TTOC approved the change, which President Brian Lewis said should be completed by the end of the year, during its recent Annual General Meeting (AGM).

Fuelled by the TTOC’s annual marathon walk and merchandising, the fund has helped raise money for Olympic-bound athletes since it was created in December 2014.

"The lawyers are currently working on the necessary documentation for the conversion to a foundation," Lewis said.

"That is anticipated to be done by the end of 2020.

"This was presented inside the annual report which was approved."

The TTOC launched the #10Golds2024 initiative as part of the organisation's goal of winning 10 Olympic gold medals by the 2024 Games in Paris.

The National Olympic Committee also approved a considerable overhaul of its marketing strategy during the meeting.

Its marketing committee has been disbanded, with another group established to assess its strategy in the wake of the COVID-19 pandemic, which has caused financial problems for organisations across sport and the Olympic Movement.

"The new marketing working group was formed with a view to establish a couple companies within the TTOC," Lewis said.

"One of which will be Team TTO Marketing Ltd and the other, Team TTO Media.

"We’re currently in the process of doing the necessary business plan and legal steps.

"The AGM was informed that we will be coming to them with more details in the coming months.

"We felt that was an important strategic imperative."

Lewis, also the President of the Caribbean Association of National Olympic Committees, warned there was "a lot of work to do" regarding governance after a report on its national sports organisations was presented at the meeting.