USOC, NBC Partner On Gold Map Initiative Brazil Struggling With Rio Games Preparations Schwartzel Latest To Withdraw From Rio Games NHL's Future Olympic Participation In Doubt More Sports Orgs Moving To Lausanne Oosthuizen Becomes Latest Golfer To Bypass Rio Adam Scott Latest Big Name To Skip Rio Golf COC Exploring Interest In Upcoming Olympics De La Hoya Pleads Against Pros In Olympics Vijay Singh Decides Against Playing For Fiji At Rio
HOUSE OF PAYNE: ACOG CEO PROFILED IN SPORTS ILLUSTRATED
Published January 5, 1996
ACOG CEO Billy Payne is the subject of a cover story in this week's SPORTS ILLUSTRATED. Donald Katz examines Payne's efforts to impress the IOC into awarding Atlanta the '96 Games and his efforts to get sponsors to put up money to stage the Games. When asked how he would get major companies to contribute money just for domestic rights, Payne simply replied, "Well, sir, we're going to talk 'em into it." In addition to the TOP sponsorship money, nearly $500M has been raised domestically. In addition to financial contributions, Payne has companies contributing executives and in-kind services. On his controversial large salary, Payne notes that most of it goes to retire the $1.5M loan he took out in '87 to begin his lobbying to land the Games. He drew no salary for 3 1/2 years. Payne, on the $669,112 salary: "40 percent goes to taxes, and a third of it goes to retire that million and a half in debt. At the end of the Games I will still owe $572,000 ... and everybody still gives me a rough time" (SI, 1/8 issue).