Channel Nine has been banned from reporting in Beijing's main Olympic precinct.
Channel 7 lodged an official complaint against Nine after reporter Damian Ryan and a film crew entered the Water Cube swimming venue and attempted to interview Stephanie Rice as she prepared to train.
The Nine Network immediately issued an apology to the IOC and Channel 7 and agreed not to air the footage.
But a leaked IOC document recalls a similar venue breach by Nine at the 2004 Athens Olympics and concludes the Committee would be forced to impose sanctions.
However Mr Ryan said the breach was an innocent mistake and Nine will not be going home, despite the ban.
"We concede that it was a mistake and basically it was a very innocent mistake and we'll wear the punishment," Mr Ryan said.
"But to say that we're coming home is not 100 per cent true...The sanction is that we can't get access to the Olympic Green area but we're not allowed daily access to it anyway.
"We can still fill outside the area, there's plenty of colour on the streets that's for sure. But also we still have normal access to everyday news conferences with the athletes.
"It will make things a little bit difficult, but we're certainly not getting kicked out."
While the IOC last night said the two parties had reached an agreement about the breach of broadcasting rules the leaked document reveals the Committee has banned Nine from even filming even outside venues until August 13.
"The IOC takes this as a serious breach of the news access rules, namely that ENRs (non rights holders) are not permitted to access or operate, with equipment, within any Olympic venue," the IOC letter reads.
"...The IOC therefore hereby informs you that the Nine Network ENR crew will not be issued Olympic Green Common Domain filming passes and will not be permitted to enter the Olympic Green Common Domain with equipment."
It means Nine will not have access to athletes or the media centre until five days into competition.
The ban is effective immediately.