LA 2024 Strengthens Olympic Bid Former USATF Staffers Question Max Seigel's Practices Could Three-On-Three Basketball Join Olympic Program? LA 2024 Bid Gets $250M Guarantee From State L.A. Council Questions Revised '24 Olympic Plans NHL Could Skip '18 Games, Return For Beijing USOC Gets Nearly $300M If L.A. Lands '24 Games USOC, LA 2024 Reach Marketing Agreement Revised LA 2024 Bid New Venues Added USOC Shows Diversity Hiring Stats
GOT MITT? SLOC DOES, AND HIS CUTTING THE GAMES' BUDGET
Published March 12, 1999
New SLOC President Mitt Romney said yesterday that "profit, pride and pageantry come second" to the 2002 Olympics and its athletes, according to Linda Fantin of the SALT LAKE TRIBUNE. Romney's proposal to "economize" the 2002 Winter Games will cut $14M from the budget. But the "savings come in the shadow of another" $81M in "unexpected costs," including a $41M "budget calculation error," which will increase the budget from $1.45B to $1.52B. If SLOC organizers "fail to raise the necessary funds, Romney has identified" $84M more in cuts. Romney said that OPUS, the marketing arm of the 2002 Games, has "secured" $548M in sponsorships, $326M of which goes to SLOC (SALT LAKE TRIBUNE, 3/12). Romney's cost-cutting proposals range from "a six-month hiring freeze to eliminating free lunches for trustees." The only "possible exception" to the hiring freeze, which will save $6M, is the hiring of a new COO. Cutting board expenses and staff travel will save an estimated $2M (Lisa Riley Roche, DESERET NEWS, 3/12).