The Guatemalan Olympic Committee faces suspension by the IOC on October 15 if legal issues with its governance are not resolved ©Getty Images

The International Olympic Committee (IOC) Executive Board has granted the Guatemalan Olympic Committee (COG) a "very last chance" to resolve legal issues with its governance, warning that it has until October 15 to resolve the matter.

The country's Constitutional Court provisionally suspended several of the COG's statutes and regulations and the election of the Executive Committee chaired by Gerardo Aguirre.

Aguirre is recognised as the winner of the COG's elections earlier this year by the IOC, but the Electoral Court of Federated Sports named Jorge Alexander Rodas as the victor, and he appealed to Guatemala's highest court which brought about its decision on the COG statutes.

Magistrates have rejected an appeal from the COG to overturn the decision, despite a demonstration from around 50 Guatemalan athletes.

The IOC had warned that the COG "must be able to operate in accordance with its statutes and the Olympic Charter", and its Executive Board ruled that a suspension should be implemented from October 15.

This would come into force if no solution is found to lift the provisional suspension of the COG's statutes and regulations, and no action is taken in Guatemala's sports law to ensure it can "freely conduct its elections in accordance with its own statutes and the Olympic Charter."

The IOC claimed that its measures were taken "in order to protect the interests of the athletes of Guatemala."

Guatemala's co-hosting of the Central American Games was
Guatemala's co-hosting of the Central American Games was "one of the reasons for the October 15 deadline" the IOC said ©Getty Images

A meeting between COG and national authorities in Guatemala is expected to yield a proposed solution, which needs to be submitted to the IOC by September 25.

If a solution is found before the cut-off of October 15, a report would be delivered to the IOC Executive Board, which has the power to lift the planned measures.

A suspension of the COG would prevent athletes from representing Guatemala or competing under its flag and name at the Olympic Games and other international sporting events, and make it ineligible for funding from the Olympic Movement.

Reacting to the imminent threat of suspension, the COG warned that it would prevent 322 athletes from receiving monthly support, and result in 138 coaches, 74 technical sport officials and 78 administrative and operational officials from receiving their salary.

National Olympic Committee relations and Olympic solidarity director James Macleod said that the Executive Board wanted to offer "a very last chance for a solution to be found at a national level", while ensuring "full compliance with the Olympic Charter."

Guatemala is due to co-host the Central American Games with Costa Rica, beginning on October 27.

Macleod said that the Games was "one of the reasons that the deadline of October 15 was put in place."

"The NOCs that make up those Games will have to make the decisions based on the decision of the IOC Executive Board as to whether these Games should go ahead in a state with an NOC that is suspended or not, and that's something that we'll work with them in the next couple of weeks to help them through that decision".

Central American Sports Organization President Henry Nuñez Najera has already written to the COG to inform it that no NOC suspended by the IOC can participate or organise the Central American Games, in a letter published by the COG on Twitter.

Panam Sports President Neven Ilic issued a similar warning that it would not be permitted to participate in the Pan American and Junior Pan American Games, and reiterated that the organisation recognises Aguirre as President.

Guatemala has competed at every Olympic Games since Mexico City 1968, winning its only medal through Érick Barrondo's men's 20 kilometres race walk silver at London 2012,

The second day of the IOC Executive Board meeting is due to be held tomorrow.