In what is known as the Antwerp Ceremony ( as this tradition was started in Antwerp ) , the mayor of the city that organized the Games transfers a special Olympic flag to the president of the IOC . The president then passes it on to the mayor of the city hosting the next Olympic Games . In what is known as the Antwerp Ceremony , the mayor of the city that organized the Games transfers a special Olympic flag to the president of the IOC , who then passes it on to the mayor of the city hosting the next Olympic Games .