USOC Projects 10% Increase In Revenues During Upcoming '13-16 Quadrennial

The USOC projects a 10% increase in revenues during the '13-16 quadrennial, which will allow it to increase athlete support by 10-15%, USOC CEO Scott Blackmun said. Blackmun, who spoke after the USOC's final board meeting of the year, said the revenue increase is driven by the combination of the IOC's new TV deal with NBC, sponsorships and fundraising. He said, "From a financial health standpoint, we feel good about the progress we've made. We're projecting that growth we've seen will continue into the next quad." In addition to talking about future financials, the board reviewed the organization's '11 performance, approved its operating plan for '12 and approved its budget for '12. The board approved a new position for a director of diversity. There also was a discussion of its international relations strategy. USOC Chair Larry Probst said that the USOC and IOC remain committed to reaching a resolution on their current revenue-sharing agreement, which entitles the USOC to 12.75% of U.S. TV revenue and 16% of global Olympic sponsorship revenue. Probst said the USOC and IOC plan to discuss that arrangement again in January during the Youth Olympic Games.