Finance Commission head Richard Carrion has joined the race to succeed International Olympic Committee (IOC) president Jacques Rogge.
The Puerto Rican will run against Thomas Bach, Ng Ser Miang and Wu Ching-kuo, who has yet to officially declare his intention to run, reports Xinhua.
Carrion, 60, has no sporting background. He is chairman of a financial holding company and since 2002 has chaired the IOC's Finance Commission and in that capacity has overseen negotiations for the Olympic Games' television rights. He is also an IOC member since 1990.
The election will be held in September in Buenos Aires, Argentina.