World athletics chief Sebastian Coe, multi-millionaire and Olympic newcomer Johan Eliasch and Zimbabwe’s sports minister Kirsty Coventry are among seven candidates for next year’s International Olympic Committee presidency election, the IOC said on Monday.

IOC vice president Juan Antonio Samaranch, son of the late former IOC president, international cycling chief David Lappartient, Prince Feisal Al Hussein of Jordan and international gymnastics federation head Morinari Watanabe are also in the running to succeed current president Thomas Bach.

The 70-year-old German is stepping down next year after 12 years at the helm. The election will be held at the IOC session in ancient Olympia, Greece in March 2025.

The candidates will all present their programmes, behind closed doors, to the full IOC membership in January 2025.

The IOC, with 111 members currently, is in charge of the Olympic Games and the multi-billion dollar industry linked to the world’s biggest multi-sports event.

Bach’s departure comes with the organisation in a financially robust position, having secured $7.3 billion for the years 2025-28 and $6.2 billion already in deals for 2029-2032.

The president is elected to an eight-year first term with the chance of a second term of four years, if re-elected.

Coe, 67, only joined the IOC in 2020 after a rocky relationship between World Athletics and the IOC over Coe’s ban of Russian track and field athletes almost a decade ago following the country’s doping scandal.

A former Olympic champion with a wealth of experience in the sports world, Coe was previously head of the London 2012 Games and the British Olympic Association. He is also a former Conservative Member of Parliament.

Coventry, 41, is the only woman running for president and the former Olympic swimming champion, who is Zimbabwe’s most decorated Olympian, could become not only the first female president but also the first from Africa.

All IOC presidents have been men, with eight of the nine from Europe and one from the United States.

The 62-year-old Eliasch, head of the International Ski and Snowboard Federation (FIS), only joined the IOC in July. Prince Feisal, 60, is a member of the IOC executive board, having joined the organisation in 2010.

“The IOC now needs a new leader with deep experience of the Olympic movement who can help steer it through this period of upheaval,” said Samaranch in a statement.