Simplify the following text for a Grade 9 native English-speaking person.
Original: As the umbrella organization of the Olympic Movement , the International Olympic Committee ( IOC ) is responsible for selecting the host city , overseeing the planning of the Olympic Games , updating and approving the sports program , and negotiating sponsorship and broadcasting rights .
Simplified: As the group in charge of the Olympic Movement , the International Olympic Committee ( IOC ) is responsible for selecting the host city . Overseeing the planning of the Olympic Games .