Pat Hickey is to pay the bond and accept the terms laid down by a Brazilian judge in order to have his passport returned to him.
A judge ruled earlier this week that he could return to Ireland for medical treatment.
His lawyer has said this evening that the money will be deposited but it is still not clear who will be paying the money.
The International Olympic Committee has revealed that it will not pay the bond that the former President of Olympic Council of Ireland Pat Hickey is required to produce as a condition of being allowed leave Brazil, writes Joe Leogue.
While the OCI yesterday ruled out paying the BRZ$1.5m bond (€410,000), the IOC had referred media queries to Mr Hickey’s representatives.
As a member of its Executive Board, the IOC had covered the cost of Mr Hickey’s flights to the Olympic Games in Rio de Janeiro.
This morning however, the IOC’s Media Relations team confirmed its position to the Irish Examiner.
“No, the IOC will not pay for Mr Hickey's bond,” the Media Relations Team said.
It did not elaborate as to whether or not it was contributing to Mr Hickey’s legal fees or other associated costs.
On Wednesday, Mr Hickey, who is facing charges relating to alleged ticket touting during the Rio games, was given permission to return to Ireland on health grounds by Brazil’s special court for supporters and large events.
Denying all allegations against him, he had been released from custody in August, however Brazilian authorities retained his passport.
The 71-year-old has stepped aside from his Olympic duties until the conclusion into the investigation.