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TAKING CARE OF ITS OWN: USOC SPENDING MONEY ON ITS ATHLETES
Published August 13, 1998
The USOC will celebrate the 20th anniversary of its Colorado headquarters on Friday, and Michael Hiestand examines the role and budget of the Olympic committee in USA TODAY's "In Focus" section. He writes that with annual revenues of about $107M, the USOC is "bigger than nearly all major league teams," and that about 79% of all USOC revenues "arguably support athletes." The USOC's administration costs are about 7% of its budget, about half the level of a decade ago, and "direct support" of athletes has increased from 1% to 11%. The USOC has put aside an extra $18M to train elite athletes for the 2002 Games and $8M for the 2000 Games. While individual contributions account for about 10% of revenues, the USOC expects to sign about 17 top sponsors for the 2002 Winter Games in Salt Lake City, whose eight-year deals "will total more than" $800M. The USOC's "quadrennium budget" has grown from $55M in '77-80 to its current $429M. Hiestand adds that while USOC President Bill Hybl and the Exec Committee are unpaid, '96 reports showed that USOC Dir Dick Schultz made $506,000 while USOC Deputy Secretary General John Krimsky made $389,000 (USA TODAY, 8/13).