From $8 beers to $5 hot dogs, overpriced concessions are nothing new to the American sports fan. One simply has to pay a visit to Nationals Park to witness a baseball game break out in the middle of a grossly expensive food court. High-priced refreshments are not limited to the States, however, as food prices at this year’s Olympic Games in London have come under scrutiny.

“The largest peace time catering operation in the world” is set to kick off with the opening ceremonies on July 27th. A 330ml bottle of Heineken will run fans £4.20 which averages out to £5.90 ($9.20) per pint. The average price of a 16oz pint of beer at a major league ballpark this season is $6.56.

The International Olympic Committee’s executive board voted Thursday morning to approve a new revenue-sharing agreement with the U.S. Olympic Committee, formally ending the longstanding dispute between the sides.

IOC President Jacques Rogge and USOC Chief Executive Scott Blackmun will jointly announce the 20-year agreement that begins in 2020 at a 1:30 p.m. press conference.

The USOC’s board voted Wednesday night to approve the deal, which will ensure that the USOC does not see a decrease in sponsor and television dollars from the IOC unless both drop dramatically, according to two officials with knowledge of the deal. It also, however, requires the USOC to chip in some $20 million toward Games costs.

The deal also means the USOC likely will put forward a U.S. bid city for either the 2022 Winter Games or the 2024 Summer Games.

As grueling as Olympic qualifying can be for an athlete, American hurdler Lolo Jones says that pales in comparison to another challenge she faces daily.

Jones is a 29-year-old virgin who is saving herself for marriage. And in an interview with Mary Carillo for HBO’s “Real Sports with Bryant Gumbel,” she discussed just how difficult that path has been.

“I just don’t believe in it.” Jones said. “It’s just a gift I want to give my husband. But please understand this journey has been hard. There’s virgins out there and I want to let them know that it’s the hardest thing I’ve ever done in my life. Harder than training for the Olympics. Harder than graduating from college has been to stay a virgin before marriage. I’ve been tempted, I’ve had plenty of opportunities.”

The U.S Olympic Committee has agreed to the terms of a new revenue-sharing deal with the International Olympic Committee that is intended to soothe international resentment while allowing the USOC to lift its self-imposed moratorium on bidding for future Games, according to an international official with knowledge of the talks.

“Safe to say, the details are done,” the official said.

Oscar Pistorius, the double-amputee South African runner nicknamed ‘Blade Runner,’ is one race away from making history by qualifying for the Olympics.

South Africa's Oscar Pistorius powers his way to victory in the T42/43/44 Men's 200m during the Paralympic World Cup, at the Manchester Regional Arena, Manchester, England, Tuesday May 22, 2012. (Jon Super - AP) To clinch a spot on the South African team, Pistorius must run the 400 meters in 45.30 seconds or better one more time before June 30. He will get that chance on June 9 at the Adidas Grand Prix in New York City.

A four-time Paralympic gold medal winner, Pistorius earned his nickname for the carbon-fiber blades he attaches to his amputated legs. If he can post a third Olympic ‘A’ qualifying time, Pistorius would be the first amputee track and field runner to qualify for the summer games.

“I’ve been preparing for the Olympics for five years and I missed Beijing by a quarter of a second, so that is something I really want to achieve,” he told the BBC this week.