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WORLD CUP SHOWS A $60 MILLION SURPLUS
Published October 19, 1994
Already an "enormous success" in terms of attendance and U.S. TV ratings, the '94 World Cup "formalized its financial success yesterday, when the U.S. organizers announced that the event will generate a surplus of more than $60 million." The figure is "well above" what organizers had predicted. The surplus funds will go to the U.S. Soccer Federation Foundation, a non-profit corporation set up to promote soccer in the U.S. However, the foundation will not give any money to the MLS, the proposed outdoor pro soccer league being led by World Cup Organizing Committee chief Alan Rothenberg. In fact, the MLS owes the World Cup committee for a $5M loan (Steve Berkowitz, WASHINGTON POST, 10/19). "In an era of declining sports marketing dollars and increasing costs of mounting international sporting events, the surplus is considered by some to be remarkable" (Julie Cart, L.A. TIMES, 10/19). BONUSES: Peter Ueberroth, who chaired the World Cup's Compensation Committee, announced that all the full-time employees of World Cup would receive salary bonuses. Rothenberg reportedly will receive a $3M bonus as well as another $4M as part of a deferred-compensation package for 'back pay due.'" The board was not in complete agreement on the issue of Rothenberg's compensation (L.A. TIMES, 10/19).