Cabrinah owner withdraws Olypmic endorsement

Neil Pryde, has withdrawn his endorsement of teh IKA Campaign to attain Olympic Event status for Kitesurf racing.

http://racing.neilpryde.com/latest/kitesurfing-as-an-olympic-event/news-detail.html

It is very interesting (to me) as it seems counter intuitive that the owner of a big brand that would be hugely rewarded by the attainment of Olympic Event status, would withdraw support for it.

Neil Pryde should be given massive respect for his experience in all aspects watersports. Why would he take this position?
Is he withdrawing support for the IKA administrators? Is there anything to read between the lines?
He says "it is important to look at Kitesurfing today and understand the limitations of the sport within the requirements of an Olympic Event." so what are these limitations? is he absollute imitations such as wind dependency, or is he talking developmental limitations such the IKA not having world wide recognition, or just kitesurf racing not having much of a foundation in time?

Isn't the olympics about kickbacks